The New Brunswick government has announced it’s increasing community funding and equalization grants in 2018 in an effort to help offset revenue lost by freezing property assessments.
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$74.9 million in community funding and equalization grants will be doled out to municipalities, rural communities and local service districts, an increase of $265,000 from the previous year.
Environment and Local Government Minister Serge Rousselle says the added funds are aimed at keeping areas from having to make difficult decisions leading to the loss of services.
“We believe that a freeze to assessments until the property assessment system has been improved is the only responsible choice,” said Rousselle, explaining the decision to halt the process.
“The equalization part is to make sure we maintain a certain level of services all across the province.”
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The funding breakdown will see municipalities and rural communities get a core funding component of approximately $12.9 million and an equalization component of $53.2 million while newly incorporated and restructured communities receive $1.8 million.
The full breakdown of funding and grants can be found on the New Brunswick Government website.