A renovated Saint John hotel that received a substantial property assessment increase more than five years after it was upgraded is another example of stagnant valuations costing the city critical tax revenue, according to Mayor Donna Reardon.
A Saint John developer has told Saint John city council just how difficult it has been to move ahead with projects in a world of supply chain problems and administrative delays.
Following record real estate prices and sales all over New Brunswick for last two years, frozen assessments on homes valued at $200,000 and above are almost unheard of in the province. There are none in either Moncton or Fredericton for 2023. But in Saint John there are still dozens.