The 25 year LNG tax concession granted Irving Oil back in 2005 capping property tax at half a million dollars a year is now expected to be an issue in May’s municipal election.
The request to repeal the tax deal is still being reviewed by the provincial government with provincial Energy Minister Donald Arsenault quoted as saying he would be interested in hearing what Saint John voters think.
Common Councillor Gerry Lowe says there have been whispers the provincial government is seriously considering repealing the deal.
Lowe points out Arsenault, himself, voted against the deal when it came before the legislature during the tenure of then Premier Bernard Lord.
It’s believed the property tax on the L-N-G terminal would be as high as 8 million dollars without the tax concession.
