The value of residential buildings on the island of Montreal increased by 23,5% on average compared to 2005, according to the rolls of evaluation for 2011-2013.
The districts where the rise is most marked are the Plateau-Mont-Royal (34,7%), the South-west (30,6%) and Rosemont (28,4%).
Consequently, the owners should expect an increase in municipal taxes next year, even if the people in charge of the City assure us that one should not jump too quickly to conclusions.
At the other end of the spectrum, according to the data based on the real-estate market on July 1, 2009, the properties located in Montreal-North saw their value increasing only by 18,8%.
On the scale of the agglomeration, the properties of l’Île de Dorval are exceptions, since their value exploded by 59,9% in four years time.
Duplex and triplex
According to the explanations of the Appraiser of the City, Gaetano Rondelli, the rise is most marked concerning buildings with residences, mainly those with five units and more, as well as duplexes and triplexes.
“It is for this reason that the average of the increases is higher in the districts where one counts many buildings with residences, like the Plateau”, he explained on the occasion of a presentation.
For the non-residential buildings, the rise of the average values is 20,2%.
Although usually, the tax account of the buildings having the biggest rise of value tends to increase, François Leclaire, the budget director of the City of Montreal, explains that nothing was still decided on the part of the Tremblay administration.
“The rolls are the base of taxation. But there will be tax decisions which will be made according to several other factors. The budget will be finalized in November”, he warned.
33 billion $ of exempted value
One also learns, by scrutinizing the tables of the new evaluation roll, that the number of buildings exempted from taxes leaped by 19,8% and reaches 11.822 now, for a total value of 33 billion $.
The majority of these buildings, of the governmental buildings, pay, all the same, an annual compensation to the City.
However, a good number of the exempted buildings are golf courses, marinas and places of worship, a controversial situation with which mayor Gerald Tremblay promised that the City would deal.
Rise of the most important taxes:
The weakest rises:
- Average value of a condominium: 267.200 $
- Average value of a one-family house: 397.700 $
- Average residential tax account (2010): 2900 $
- Highest value of a one-family property: 10,1 million $
- Total value of the 460.394 buildings in Montreal: 242,1 billion $