One of the buses in the Saint John Transit fleet. (Staff photo)
Local government transit facilities in New Brunswick may soon be exempt from paying property taxes.
The Higgs government introduced amendments to the Assessment Act on Wednesday to eliminate property taxes on those facilities.
A news release from the province says the change is meant to help reduce operating costs, and promote public transit as a low-cost and environmentally friendly alternative.
The idea initially came as part of a three-part plan designed to help the City of Saint John deal with its financial challenges.
“Our government recognizes the various challenges facing our local communities and we have been working closely with local government representatives to address their concerns,” said Finance Minister Ernie Steeves in a news release.
“We will continue to work with local governments to build financially stable and sustainable communities,” he added.
Saint John Transit, Codiac Transpo, and Fredericton Transit would all be eligible for the tax exemption if the legislation passes.
According to the province, the three transit systems have a total assessed value of about $28 million in 2020 and would pay about $615,000 in property tax.
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