Property values increase by 32.4% on the Island of Montreal with the filing of the new municipal assessment roll, which comes into effect on 1er next January.
Posted at 11:00 a.m.
You have to go back to the 2007 roll to see an increase in value of this magnitude. At the time, the increase was 38.6%.
The roll covers the 19 boroughs of the City of Montreal, as well as the 15 other related cities.
The values on the roll reflect the market value of the properties on the reference date on 1er July 2021. The variations in values between the new role and the previous one indicate the evolution of the market between the 1er July 2018 and the 1er July 2021.
The total value of the 502,789 buildings listed on the 2023-2024-2025 rolls for the Montréal agglomeration reached $526.3 billion, up $141.8 billion from the previous roll.
The value of buildings in the residential category increased by 35.5%, while that of the non-residential sector increased by 23%. The value of vacant land jumped 42.8%.
Home values rose 38.6%, the strongest increase in the residential sector. The change in the values of divided co-ownerships (condos) amounts to 30.7%.
In the non-residential sector, there are significant differences between the sub-categories. The industrial sector appreciated by 60.5%, while offices increased by only 6.5%. Shopping centers saw their value decrease by 2.1%. Hotels are also suffering.
The impact of the new role on the owners’ tax bill will be known with the tabling of the 2023 budget of the cities concerned later this year.
Owners can consult the new value of their building on montreal.ca.
More details to come.
Learn more
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- $840,000
- average value of a family residence in the Montreal agglomeration
City of Montreal Evaluation Service
- $492,400
- average value of an apartment in divided co-ownership in the Montreal agglomeration
City of Montreal Evaluation Service