Double Tax Facts
Want the facts on the double tenant tax and how it impacts you? Here’s the scoop:
- New Brunswick is the only province in Canada that charges double property tax on non-owner-occupied apartments.
- New Brunswickers pay 250 per cent more than the national average for property tax.
- The 250,000 New Brunswickers who rent (that’s you) are paying for this tax.
- The double tax hits many of the people in New Brunswick who can afford it least, like students, young families, and seniors.
- The double tax isn’t a significant source of money for the province – it generates less than 1% of PROVINCIAL GOVERNMENT revenues but negatively impacts 30% of NEW BRUNSWICK’S population.
- The double tax drives away investment in new apartment buildings, hurting New Brunswick’s economy and reducing housing choices for citizens.
- Landlords are promising a three-year rent freeze if the government removes the tax.