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2024 Saint John city budget includes four cent decrease in residential property tax

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The 2024 proposed budget for the City of Saint John would include a four cent reduction in residential property tax.

The rate currently sits at $1.62 per $100 of assessed value and would drop down to $1.58.

“Inflation has been tough the past couple of years and we really wanted to make sure, and as sad as it sounds, that we were under 10 per cent of an increase overall for our residents,” says Saint John City Councillor Gary Sullivan, who also serves as the city’s finance chair. “So a four cent tax reduction is still a 9.9 per cent increase in what the residential tax paying group will be paying over last year.”

Sullivan says the city has a long term financial plan, and says the strength of property assessments this past year has allowed the city to have a budget increase of 5.9 per cent from 2023. The city remains restricted on how heavy industry and commercial groups in Saint John are taxed.

“Heavy industry will actually pay a little less last year then they did the year before,” says Sullivan.

Sullivan remains committed to seeing heavy industry in the city pay more in the future. While residents will see property tax revenue rise to 9.9 per cent, heavy industry will see a decrease of two per cent.

“We think we are investing it in things that residents would like us to invest it in,” says Sullivan on the tax dollars. “We continue our conversations with the province and other groups to see that in the future we can have the non-residential folks including the heavy industry paying a little more of their fair share.”

Other highlights from the 2024 budget include money more staff to look after the city’s park, extra positions for by-law enforcement, investment in its industrial parks, and a new round about among others.

“There was some good conversation about item that were there and items some people wish were there,” says Sullivan. “But at the end of the day I thin it was recognize as hitting a lot of the marks and a lot of the plans we have in place, while being fiscally responsible for residents who are paying the bills.”

The city’s finance committee has already approved the 2024, with council set to make their final vote on Dec. 11 at the next common council meeting.

For more New Brunswick news visit our dedicated provincial page.

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