Common Council has been given a report on property tax fairness that proposes a dramatic new approach to local taxation with heavy industry paying more and homeowners less.
According to the report, property taxes in the city could go down by between 5 and 40 per cent if heavy industry paid more, if provincial property taxes were eliminated and municipalities were allowed to set their own rates.
Under this scenario, the unconditional grant from the province could be done away with.
In Saint John, 61-percent of the property tax burden is residential, 19-per ent commercial and 17-percent industrial.
The property tax rate in Saint John is up to 50 per cent higher than in the Kennebecasis Valley while the median income is lower.
