Real estate listings in New Brunswick routinely display property tax amounts that are significantly lower than what new buyers will actually pay. This discrepancy is due to the province's 'spike protection' policy, which discounts property taxes for current owners during periods of rapid property value escalation, but this discount expires upon sale. The New Brunswick Real Estate Association states its rules require displaying current tax information, but not the undiscounted amount for new buyers, arguing it's the agent's responsibility to explain. This practice has led to unexpected higher tax bills for new homeowners like Julia and Konner Bourgeois in Saint John.
Low property taxes shown in N.B. real estate ads evaporate for new buyers
MonctonNew BrunswickSaint JohnProperty taxesReal estate industryMortgages
AI Summary
TL;DR: Key points with love ❤️Real estate listings in New Brunswick routinely display property tax amounts that are significantly lower than what new buyers will actually pay. This discrepancy is due to the province's 'spike protection' policy, which discounts property taxes for current owners during periods of rapid property value escalation, but this discount expires upon sale. The New Brunswick Real Estate Association states its rules require displaying current tax information, but not the undiscounted amount for new buyers, arguing it's the agent's responsibility to explain. This practice has led to unexpected higher tax bills for new homeowners like Julia and Konner Bourgeois in Saint John.
Trending- 1 19 months ago: Julia and Konner Bourgeois bought their first home in Saint John.
- 2 January 2025: Julia Bourgeois was interviewed about their experience.
- 3 Monday, Tuesday, and Wednesday (late May 2025): Analysis of new listings in Moncton, Dieppe, and Riverview showed widespread use of spike-protected tax amounts.
- New homeowners face unexpectedly higher property tax bills after purchasing a home.
- Prospective buyers may be misled by real estate listings regarding actual property costs.
- Calls for greater transparency in property tax disclosure in real estate listings.
What: Real estate listings in New Brunswick display property tax amounts that are lower than what new buyers will pay due to the 'spike protection' policy, which is a discount for current owners that expires upon sale.
When: This practice is ongoing. Julia and Konner Bourgeois bought their home 19 months ago. On Monday, Tuesday, and Wednesday (late May 2025), 16 out of 23 newly listed houses in Moncton, Dieppe, and Riverview showed spike-protected property tax amounts.
Where: New Brunswick, Canada, specifically in Moncton, Dieppe, Riverview, and Saint John.
Why: The New Brunswick government's 'spike protection' policy provides a tax discount to current property owners that does not transfer to new buyers, creating a discrepancy between listed and actual future tax amounts.
How: Real estate listings show the current, discounted property tax amount. There is no requirement to provide the easily calculated undiscounted property tax amount that new buyers will actually face. Agents are expected to verbally explain this discrepancy to buyers.