Here is another New Brunswick focused statistics post related to our recent local governance reform.
These are
2023 numbers.
For more details on the areas and the local governance reforms in general the province has this handy website:
https://www2.gnb.ca/content/gnb/en/corporate/promo/local-governance.html
First I have a look at the "1 Billion Club" of New Brunswick, municipalities which have passed the billion dollar mark for property values.
To me Shediac is the biggest interest here, they are the fastest growing percentage wise for property values which accounts for new construction and natural increase in existing properties. If these numbers remain similar Shediac could rocket up to 7th place in the province within the next few years passing even Miramichi.
The other big news is the new versions of Moncton and Fredericton both have surpassed the 10 Billion mark in property value. With the essentially contiguous urban area of Moncton/Dieppe hitting the 15 Billion mark.
I included some information about tax rates and the provincial grant money afforded to each entity since it is another interesting sidebar. For the "Grant vs Tax Base" please note this is
exaggerated for better comparison otherwise the numbers are too small to be meaningful.
Next I have broken down each "sub region" which I kind of invented based on geography.
First is the
Capital Region. If my "Grant vs Tax Base" column can be understood as an informal barometer for the fiscal health of an entity this region is certainly experiencing overall excellent fiscal health! Most of the areas in this region are growing quickly as well above 10% in tax base year over year.
The next region is
North East, we all know this region has struggled in recent decades. None of the entities in this region saw their tax base increase more than 10% and the provincial grants are higher than average as well.
Next is the
North West region.
The
South East region is next, home to the most (7) members of the billion dollar club. This region is seeing some of the fastest growth in tax base and is generally in good fiscal standing.
Finally the
South West region, mixed results with some areas growing quick and others growing slower. I don't know whats going on in McAdam but they are certainly needing a lot of help from the province they have the largest per capita. Saint John has the largest grant in terms of actual dollars but I think this is related to some kind of correction due to intentional undervaluation of heavy industrial properties?
Lastly here is a look at the
regional totals. Amazing to think the small capital region encompasses nearly as much tax base as the entire north half of the province
Also astounding to see the provincial tax base grow by 9 billion in a single year, the tide of immigration from various sources is certainly pushing property values way up in general.