BILL 5

An Act to Amend the Real Property Tax Act

Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 Section 5 of the Real Property Tax Act, chapter R-2 of the Revised Statutes, 1973, is amended

(a)  by repealing paragraph (1.04)(b) and substituting the following:

(b)  $2.1860 on each $100 valuation of real property being non-residential property.

(b)  by repealing subsection (1.06) and substituting the following:

5( 1.06) For the year 2016 and every subsequent year, the rate of tax to be used in paragraph (1)(b) is $2.1860 on each $100 valuation of real property being non-residential property.

2 This Act comes into force on January 1, 2015.