Tax charges for residential buildings will increase by an average of 4.9% next year, according to the City of Montreal’s budget presented on Wednesday. This is the largest increase since 2010. What will be the impact on your tax bill? Consult our map to see the differences according to the districts and types of properties.
All types of properties combined, the average value of a residential building in Montreal is $694,541. The average tax bill will thus increase from $4,665 to $4,892, which represents an increase of $227 or 4.9%, it is detailed in the 2024 budget.
However, the variation in tax charges is not the same depending on the districts. For example, we observe the lowest increase in Ville-Marie, where these charges will increase by 2.6% next year. At the other end of the spectrum, they will increase most sharply, by 7.2%, in Pierrefonds-Roxboro.
They also do not grow at the same rate depending on the category of residential building. For example, for a condominium with an average value of $540,206 in Ville-Marie, the increase in the tax bill will be 1%, or $35. While for a single-family home costing $537,702 in Pierrefonds-Roxboro, it will be 7.7%, or $273.
For more details, hover over the interactive map below:
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