The president of the executive committee reacts to the deposit of the property assessment rolls 2023-2024-2025 for the agglomeration of Montreal

MONTREAL, him September 14, 2022 /CNW Telbec/ – After the deposit of the new property assessment rolls for the years 2023-2024-2025, the president of the executive committee of the City of Montreal and responsible for finances, Dominique Oliverpresented the reaction of the Montreal administration.

As provided by the Municipal tax law, the Property Assessment Service has produced and presented the 2023-2024-2025 property assessment rolls for the 16 connected cities and 19 boroughs of the Montreal agglomeration. It should be noted that this exercise is carried out by an independent chief evaluator of the political authorities, namely Mr. Bernard Côté and his team. The property evaluation roll allows to draw a picture of the inventory of the buildings located in the territory of the agglomeration. It also provides information necessary for the taxation of municipal and school property.

Unsurprisingly, the real estate market has been very dynamic and posted strong growth over the past three years. The average variation for all the countries of the agglomeration is about 32.4%. The cities of Montreal East (52.5%), Senneville (45.9%) and Dollard abalone (45.1%) show the highest increases.

In Montreal, the value of properties is on average 31.4% higher compared to the previous roll. These are the neighborhoods of China (42.6%) and PierrefondsRoxboro (40.8%) which have greater increase. With the exception of Ville-Marie, all other neighborhoods show an increase in values ​​between 30% and 40%. The total value of the 502,789 valuation units entered in this roll is $526.3 billion. This represents an increase in the tax base of $141.8 billion from the deposit of the 2020-2021-2022 rolls.

“I want to reassure the people of Montreal. Witnessing a significant increase in the property value of buildings of about 32% does not mean that property taxes will increase by 32%. As with every new roll of property, the City will lower its tax rate so that the tax bill of Montrealers is closer to that of previous years. The details will be known when the budget is published, at the end of the year . The city’s revenues will therefore remain substantially the same and Montreal property owners will not be subject to additional financial pressure,” he said. Dominique Oliver.

It should be noted that, in June, the municipal administration started an innovative approach to diversify the revenues collected by the City. This fall, the City of Montreal will organize a forum on the taxation of Montreal. This forum will focus on the Montreal agglomeration and aims to generate possible solutions regarding fiscal and territorial equity in a context of budget limitations and increased financial responsibility of the metropolis.

Later, the Summit on Municipal Taxation of Tomorrow, which will take place in the spring, will bring together all the actors of the municipal sector of Quebec. Its purpose will be to identify concrete solutions to develop new recurring sources of income and better fiscal approaches.

It should also be remembered that last month, as part of the electoral claims of the City of Montreal, the mayor Valérie Plante asked the provincial parties to commit to establishing a better fiscal balance between the government of Quebec and the municipality.

“The good performance of the real estate market demonstrates Montreal’s enviable economic vitality. But the Rising home prices also come with their share of concerns for our most vulnerable populations. To respond to this, our administration has made housing a priority, and we are increasing our actions to ensure that Montreal remains an accessible metropolis. Our Affordable Montreal Project is ongoing and our Statute for a mixed metropolis allows us to ensure the construction of social, affordable and family housing. We will continue to ensure the inclusive, affordable and exemplary development of Montreal,” he concluded Dominique Oliver.

The 2023-2024-2025 property assessment rolls are available for consultation online at montreal.ca.

SOURCE City of Montreal – Office of the Mayor and the Executive Committee

For more information: Marikym Gaudreault, Executive Committee Press Officer, Office of the Mayor and Executive Committee, 438 925-0884, [email protected] ; For more information: Gonzalo Nunez, Publicist, Press Relations Division, City of Montreal, [email protected]

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