Many New Brunswickers may be feeling blue when they head to their mailboxes this week.
Property assessment notices are now in the mail, the province announced on Monday.
More than half of properties — around 57 per cent — will see their assessments increase by up to 10 per cent.
Another 30 per cent will see even higher increases, though many will qualify for the spike protection mechanism.
It does not include properties with new construction or major improvements, those that have been recently sold and property values set by legislation.
Twelve per cent of properties will see no changes while less than one per cent will see their assessments go down.
While a number of municipalities lowered their tax rates for 2025, many residents will still pay more in taxes due to the higher assessments.
New Brunswickers who want to request a review will have until Feb. 19. Property tax bills showing the amount owed will be mailed on March 3.
“We are continuing to experience property assessment growth across New Brunswick,” Local Government Minister Aaron Kennedy, who is also minister responsible for Service New Brunswick, said in a news release.
“A strong real estate market and new construction are directly impacting that growth.”
Overall, New Brunswick’s assessment base grew by 8.7 per cent over the past year, or $7.8 billion, to a total of $97.2 billion.
Residential properties shouldered $6.9 billion of that increase with non-residential accounting for just $900 million.
Of the province’s major cities, Dieppe saw the largest assessment base increase at 12.8 per cent — one of 19 municipalities that saw its assessment base grow by more than 10 per cent.
As for what is driving the increase, new construction accounted for $2 billion while reassessments made up the remaining $5.8 billion.
