(Quebec) Property owners in Quebec City will see their tax bill jump by an average of 3.9% in 2024, a hefty increase never seen since the mergers of 2002, which is, however, less than inflation or that announced in The city.
This budget delivered in a “particularly difficult economic situation” was eagerly awaited in the capital. The increase in property taxes will represent $120 more for a residence valued at $293,000, which is the average assessment in Quebec.
Non-residential buildings will see an increase of 4.7%. The City was quick to point out that these increases are below inflation of 5.6%.
“I am proud that we have succeeded in doing this by limiting the increase in residential and non-residential tax charges below inflation, for a second consecutive year, in addition to maintaining the priority objective of continuing to reduce the City’s debt », Reacted the mayor of Quebec, Bruno Marchand.
The City plans to reduce its debt for a ninth year in a row thanks in particular to 24 million reductions in the expenses of its “administrative units”. Savings are expected in the maintenance and snow removal of traffic lanes and in travel costs.
The debt must fall by a modest 5 million in 2024, to stand at 1.53 billion. Since 2016, the debt has fallen by 141.5 million. Montrealers were entitled to average property tax increases of 4.9% and the City’s debt must increase by 200 million.
The Marchand administration will also add 30 million to its climate change infrastructure reserve in 2024. The mayor announced the creation of this fund last year with the ambition of reaching 300 million in 2028, in order to “deal with the tremor linked to climate change”.
More details to come.