While almost every home owner will get a higher property bill this year, can you guess who will get to pay less?
According to provincial assessment figures, the city’s largest industrial property, the Irving Oil refinery, has received an assessment increase of 1.66 per cent for 2024.
However, under provincial government property tax rules, Saint John’s 2.5 per cent property tax rate cut has to be shared equally with all property owners. That will reduce municipal property taxes collected on the refinery in 2024 by about $25,000.
I’d be real worried about that if I could afford a home. Some people might say “your landlords will use this as an excuse to raise your rent!” but I’ve found they don’t really need any excuse.
It saddens me that I’m so used to the Irvings/Cons’ egregiousness that the tax cut bullshit barely registers on my radar. $25,000? That’s chump change for the Irvings.