Quote:
Originally Posted by adamuptownsj
Of note, they're only paying $12,028 annually in property tax for this lot. So even if they're semi-serious there's no pressure to proceed.
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That’s not even close to one of the worst examples in Saint John either. There’s an entire parcel of vacant land about half the size of Kennebecasis Park, beside Kennebecasis Park, our region’s most exclusive, upscale suburb, with an assessed value under $100,000 and a tax levy less than $2500.
A large, vacant plot of land with an assessed value of $94,600, with enough room to build an entire subdivision— next to the most expensive and desirable subdivision in the entire region. I guess the expert assessors at SNB don’t believe in the mantra that in real estate, “location is everything”.
The real salt in the wound to Saint John, is that directly beside this parcel of critically undertaxed land, there’s a 1.6 million dollar mansion built ENTIRELY within the city limits of Saint John, but because it’s driveway is in Rothesay, the entire property falls under Rothesay’s tax authority, and Saint John doesn’t get a cent in tax revenue from it.
Makes the Sydney Street property seem fairly taxed by comparison.
The city should be able to jack up rates on vacant land within areas they deem crucial to development, but they are hamstrung by an archaic 1960s era tax code that Higgs and the PCs promised they’d change. A promise they continually refuse to deliver on.