Canada Immigration News from the Provincial News New Brunswick released on 24/10/2023. Proposed property tax rate reduction to benefit facilities providing senior care and retirement living
Good day ladies and gentlemen, this is IRC news and I am Joy Stephen, an authorized Canadian Immigration practitioner bringing out this special edition of Immigration news from Provincial News, New Brunswick. This news was released by the government on 24/10/2023. I am coming to you from the Polinsys studios in Cambridge, Ontario. Today is the 25/10/2023
Legislation introduced today aims to ensure eligible properties providing housing to seniors, such as nursing homes and special care homes, are subject to a lower provincial property tax rate for the 2024 and subsequent taxation years.
Under proposed amendments to the Real Property Tax Act, these properties would be considered non-owner-occupied residential properties, and subject to a property tax rate of $0.5617 per $100 of assessment, much like apartments and residential rental properties.
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