Industries in the province are getting off lightly when it comes to tax assessments. So says Saint John Common Councillor Gerry Lowe who believes it should be changed considering the precarious state of municipal finances these days.
New Brunswick’s Assessment Act treats industrial properties differently than commercial and residential properties with upgrades to equipment and machinery not part of the equation.
Lowe is disappointed the increase in the tax assessment for the Irving Oil Refinery was so small considering a 200 million dollar upgrade.
He also points out the previous provincial government granted pulp mills in the provjnce a 50 per cent reduction in their taxes which cost the city of Saint John a million dollars.
