The Gallant Government has now introduced the legislation to repeal the sweetheart tax deal for Canaport LNG and expects it to pass before the end of the year.
Canaport has paid a maximum of $500,000 a year in property taxes for the last decade. Service New Brunswick is now completing a re-evaluation of the property to assess its market value effective January 1, 2017. That could result in a tax bill of $5 million or more a year.