What is the current provincial tax rate for residential properties per $100 of valuation?

What is the current provincial tax rate for residential properties per $100 of valuation?

• A. $1.00
• B. $1.50
• C. $2.00
• D. $2.25

Answer: (B)

The provincial tax rate for residential properties in New Brunswick is indeed $1.50 per $100 of valuation. This rate is established to provide funding for local services such as education, emergency services, and infrastructure maintenance. By applying the tax rate on the property's assessed value per $100, municipalities can determine the appropriate property tax owed by homeowners. Understanding the tax structure is crucial for real estate professionals, as it affects property values and buyers' decisions. A clear grasp of the current tax rate also helps in accurately advising clients on property expenses and potential costs of ownership, making it an essential element of the market analysis process.

The provincial tax rate for residential properties in New Brunswick is indeed $1.50 per $100 of valuation. This rate is established to provide funding for local services such as education, emergency services, and infrastructure maintenance. By applying the tax rate on the property's assessed value per $100, municipalities can determine the appropriate property tax owed by homeowners.

Understanding the tax structure is crucial for real estate professionals, as it affects property values and buyers' decisions. A clear grasp of the current tax rate also helps in accurately advising clients on property expenses and potential costs of ownership, making it an essential element of the market analysis process.