It is also possible findings will conclude escalating sale prices are mostly a COVID-related pricing bubble that hasn't fundamentally moved property values at all. Property records show several thousand houses have sold in New Brunswick over the last 12 months, many at prices significantly beyond their assessed values. (Kate Letterick/CBC)Three were bought in 2019 for an average price within $3,000 of their assessed values. Over the last nine months, three more have sold above their assessed values by an average of $90,000. If Service New Brunswick agrees, that may help soften assessment and property tax increases for homeowners in neighbourhoods where selling prices have been high.

Source: CBC News June 08, 2021 08:59 UTC