Skip to main content

Home values ??jumped to Quebec

Home values ??jumped to Quebec

The new valuation roll, which serves as a reference for the preparation of property tax bills should reflect the price of the real estate market in 2011. However, because of the strength of the regional economy, prices have experienced significant increases from the previous role, which dated from 2008, both in the resale market than in homes new homes.

Gina Gaudreault, Executive Director of the Real Estate Board of Quebec, expects an average increase of about 25% of the value of their homes.

"The year 2008-2009 has been relatively active, but more 2009-2010: we are talking about an increase of approximately 12% of the average price of a single family residence. Overall, for the three years that will influence the new assessment roll, talking about 25.6%. '

This is a significant increase, but it is still less than 31% increase in the previous assessment roll, which reflected the market in 2008.

Moreover, the Real Estate Board is expected that the annual increases in the value of homes are more modest in the coming years.

Nothing to do with taxes

That said, in general, residents of Quebec must not expect that their next tax bills increase as much as the value of their properties.

The Office of the Mayor Régis Labeaume, without confirming any figure whatever, we say that the goal is a corresponding increase in inflation, which is around 2.5%. Tax rates will be adjusted accordingly.

About the author

Québec Landlords Association (1)

Join now

Not already member of the APQ ?

Take advantage of all our services by joining now

This site uses cookies in order to provide you with the best possible user experience. By continuing to browse this site, you agree to the use of cookies.