Budget & Finance

Maintaining and improving the quality of life for everyone in Fredericton depends on the efficient and reliable delivery of city programs and services. It’s the city’s annual budget that determines how we pay for these vital services.

Think about how many City services affect you every day. The roads and public transit system that people depend on to get around; the police, bylaws and fire services that people depend on for their safety; the parks and waste management services that contribute to clean and healthy living; the social and leisure activities that help make Fredericton a vibrant, inclusive, and rewarding place to live and visit.

Every service that touches Frederictonians in their day-to-day lives has associated costs. The city’s budget identifies those costs, and the sources of revenue that will pay for those services. A new budget is created and proposed every year.

Budget 2023

Fredericton City Council has formally approved the City of Fredericton’s $152,881,318 operating budget for 2023.

The budget addresses inflationary needs being faced by the City, including increased gas and tender prices. It allows for core programs and services to continue and expand where necessary. There are investments in public safety, including a community safety unit, as well as affordable housing and environmental initiatives. The budget allows for a fully funded Capital program that will see road surfaces and underground pipes replaced in a timely fashion, all in support of a growing city.

Most current residential property owners will see a seven-cent decrease in their property tax rate, from $1.4086 to $1.3386 per $100 of assessment. The outside rate will remain at $1.0565.

New residents joining the city on January 1 will see a five-cent tax increase to reflect their increased level of municipal services, as allowed by the Province of New Brunswick. The following property tax rates apply:

Saint Mary’s will increase from $0.4659 to $0.5159 per $100 of assessment.
Douglas, Pepper Creek and Estey’s Bridge will increase from $0.5786 to $0.6286 per $100 of assessment.
Lakeside Estates will increase from $0.5362 to $0.5862 per $100 of assessment.
Lincoln will increase from $0.4542 to 0.5042 per $100 of assessment.

NOTE: All these areas will pay an additional tax rate of $0.4115 to the province for road maintenance. Some of the tax collected by the City will transfer back to the Province for garbage and recycling, as well as RCMP contract.

In addition, the budget earmarks $26,891,849 for Capital projects in 2023 and makes $643,000 available in strategic partner and community grants. There will be slight increases in sidewalk patios permits and parking fees.

Water & Sewer Utility

No rate increases will occur for the separately funded City of Fredericton Water & Sewer Utility budget. The combined Water & Sewer Rate for 2023 will remain at $1.94/m3, while the Quarterly Service Charge will remain at $123.80. The Utility, whose operating budget will be $23,671,040, will spend $11,820,935 on Capital projects in 2023.

Additional Resources:

Fredericton City Council approves $152.9 million budget for 2023 (News Release, November 28, 2022)
Budget 2023 Infographic (PDF)
Agenda - Regular Meeting of Fredericton City Council (November 28, 2022) – Item 9.1, 2023 Budget Resolutions.
Budget Book 2023 (PDF)

Budget 2022

Fredericton City Council has approved the City’s 2022 Budget, which resets Fredericton’s budget baseline to better deliver municipal operations and reduces the property tax rate.

The $135.1 million budget will allow the City to deliver the same service level, cover inflationary costs and wage increases, address structural gaps created over the past few years, adjust budget lines to reflect a growing city, fully fund its Capital budget, and mitigate impacts resulting from COVID-19 forecasts.

The City will also reduce the tax rate by 2.25 cents. As a result, the 2022 inside tax rate will drop from $1.4311 per $100 assessment to $1.4086. The outside rate will be lowered from $1.0733 per $100 assessment to $1.0565.

Water and Sewer Utility Budget

There continued to be a significant reduction in water consumption in Fredericton in 2021. This has created a shortfall of revenue for the Utility in 2022. As a result, and with expenses continuing to rise, the City’s Water & Utility will continue to follow its Long-Term Financial Plan and raise water & sewer rates.

Effective with the second quarter billing in 2022, the combined water and sewer rate will rise from $1.86/m3 to $1.94/m3. The quarterly service charge will raise from $117.20 to $123.80.

The average house in Fredericton pays $2.39 daily for safe, secure and reliable water, as well as environmentally sound treatment of wastewater. The budget changes mean the average household will pay $31.50 more annually for water & sewer services starting in 2022.

The total Water & Sewer Budget is $23,182,932 with $11,719,193 going towards Capital projects. As per provincial legislation, Fredericton’s water and sewer utility is self-funded, deriving all its revenue from rates charged and government infrastructure grants.

Additional Resources:

Budget 2021

No tax rate increase in City’s 2021 Budget

Despite COVID-19, City able to deliver balanced budget with no service cuts

Despite challenges presented by COVID-19, Fredericton City Council has approved a $125.1 million budget that continues to support municipal programs and invest in key infrastructure projects, without increasing the tax rate and only five small recreation and parking fee increases.

As in 2020, the inside tax rate will stay at $1.4311 per $100 assessment. The outside tax rate remains at $1.0733.

Continuing with the City’s five-year rate strategy to bring Fredericton’s fees in line with other New Brunswick municipalities, small fee increases will occur to one recreation and four monthly parking fees.

Royals Field Cost per Game – increase from $43.20 to $52.84 effective January 1, 2021
Frederick Square Garage Monthly Permit Fee – increase from $100 to $120 effective February 1, 2021
East End Garage Monthly Permit Fee – increase from $120 to $130 effective February 1, 2021
York Parking Lot Monthly Permit Fee – increase from $115 to $120 effective February 1, 2021
Officers’ Square Parking Lot – increase from $115 to $120 effective February 1, 2021

$17.1 million is earmarked for capital projects investments in 2021. $803,500 will be provided in grants to community groups in 2021.

Water & Sewer Utility

With water consumption up in Fredericton in 2020, the City’s Water & Sewer Utility has set aside its ongoing rate strategy and recommended that water & sewer rates not increase in 2021. Rates for 2021 will remain at $117.20 for the quarterly service charge and a usage fee of $1.86/m3. As per provincial legislation, Fredericton’s water and sewer utility is self-funded, deriving all its revenue from rates charged and government infrastructure grants. The total Water & Sewer Budget is $22.3M, with $11.5M going towards Capital projects.

Additional Resources:

No tax rate increase in City’s 2021 Budget (News Release, 23-Nov-20)
City provides $803,500 in community grants as part of Budget 2021 (News Release, 23-Nov-20)
Budget 2021 Infographic (PDF)
Budget Speech 2021 (PDF)
Budget Book 2021 (PDF)

Annual Reports

Audited Financial Statements

The City of Fredericton is committed to keeping Council and its citizens well-informed of the city’s financial position and financial activity. To ensure transparency and accuracy, the city’s financial statements are audited by an external independent accounting firm every year.

While the City of Fredericton's audited financial statements are included in our Annual Reports, the past three years of the statements are also listed below.