11/28/2012 03:52 EST | Updated 01/28/2013 05:12 EST

Legislation introduced to make changes to New Brunswick property tax system

FREDERICTON - The New Brunswick government has introduced legislation to overhaul the province's property tax system.

The changes would include reducing property taxes for businesses and people owning rental properties and cottages.

Homeowners would also have the option of making monthly payments rather than one annual tax payment.

The changes were first announced in September with the release of a white paper on taxation.