Fredericton, NB: Today Blaine Higgs committed to gradually eliminating the double tax on non-owner occupied properties. New Brunswick is the only province that doubles the tax rate on buildings that are not owner occupied. This unfair tax impacts landlords and tenants and it discourages investment in New Brunswick.
“New Brunswick is alone among the provinces on several issues – and one of them is the controversial double tax that Brian Gallant refuses to let go of,” says Blaine Higgs, leader of the Progressive Conservative Party of New Brunswick. “This tax is responsible for raising the rent for almost 80,000 New Brunswickers, and stifles property development province-wide.”
Mr. Higgs’ plan to roll back this tax includes the following steps:
Reduce the double tax rate by 50% over four years – through gradual reductions reflective of the province’s financial situation. Total elimination of the double tax is our final goal.
Conduct a comparative analysis of property tax systems used in other provinces so that New Brunswick remains competitive in terms of attracting business and growth.
Work with landlords to ensure tenants share in the benefit of these reductions.
“New Brunswickers need to know that the double tax is holding us back,” says Higgs. “It makes our provinces less attractive than others for business development. Without it rents would decline, and property sales would grow. Property owners and tenants deserve this break – and Brian Gallant isn’t going to give it to them.”