City of Montreal | Budget unveiled Nov. 29, rise in property values ​​spread over three years

Montrealers will have an idea next month of the increase that may hit their municipal tax bill in 2023: the administration of Valérie Plante will present its budget on November 29.

Isabelle Ducas
The Press

The president of the executive committee, Dominique Ollivier, also announced on Wednesday that the increase in property values ​​resulting from the new property assessment roll, which averages 32.4%, will be spread over three years.

The City has traditionally done this to mitigate the effects of changes in property values ​​for ratepayers.

“Our administration’s priority has always been to respect Montrealers’ ability to pay. We know that the population must deal with an increase in their expenses, in particular due to galloping inflation, and we want to make sure that they avoid too great a shock following the coming into force of the new assessment roll. “said Dominique Ollivier, in a press release.

To reassure Montrealers, Ms.^me Olivier clarified that a 32% increase in the property value of buildings does not lead to a 32% increase in property taxes. “The tax rate will be adjusted downwards so that the tax bill is closer to that of previous years and that taxpayers are not subject to additional financial pressure,” she said.

Generally, if the value of a building increases more than the average, the tax bill of its owner will increase. Conversely, a building that appreciates less than the average means a reduction in the tax bill.

The president of the Board of Trade of Metropolitan Montreal, Michel Leblanc, congratulated the municipal administration on Twitter for its decision to spread the increase in property assessments over three years. “It remains to specify the rate that will apply to this property value. We still recommend limiting the increase in the tax bill to 3% in 2023,” he suggested.

The Plante administration has pledged not to raise taxes beyond inflation. The consumer price index showed an annual increase of 6.9% last September.