With the assessment of the Canaport LNG terminal in Saint John getting slashed by a whopping 67-percent as compared to the nearly 300-million-dollar assessment of previous years, many may be wondering why?
We spoke with Service New Brunswick minister Dr. Ed Doherty about this and he says that when the original assessment was done the price of natural gas was very high so there was a big demand for it.
The Saint John Harbour MLA says that part of the assessment includes productivity of the plant, which is lesser than it was, and why the assessment has gone down.
Pending an appeal, the city will receive 2.9-million-dollars. The city was receiving half a million under the 25 year tax freeze passed by Common Council in 2005
