Province announces municipal tax bases
(posted by KHJ Radio News, December 07/10)
The province has announced the municipal tax bases, and the numbers are up. The figures reflect the value of new construction and existing property and is the base upon which the municipal tax rate applies. Fredericton's tax base has increased by close to five per cent, or just over $270 million. The city's finance committee chair says that's good news. Councillor Mike O'Brien says when they started budget discussions the numbers were based on a tax base increase of four percent. He says with the bump slightly higher than forecast, that's even more revenue.
O'Brien is challenging his council colleagues to at least discuss, in public, a possible decrease in the city's tax rate. Oromocto's tax base is up more than 6.5 per cent, while New Maryland is up just over two per cent.