2024-01-29 01:39:43
Montreal was not spared from the most recent municipal tax increase. Metropolitan citizens on average saw their tax bill increase by 4.9%, or 1% more than inflation.
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“Several Montrealers took the plunge when they received their 2024 tax bill,” real estate broker Younes El-Moustir told TVA Nouvelles.
However, the tax rate has suffered a slight drop compared to last year.
The City of Montreal also affirms that the average of 4.9% might have been much more significant.
“Montreal has made an enormous effort to limit the tax increase, which will be much lower than elsewhere while Toronto announced, for example, an increase of around 10.5 to 16.5% and Vancouver an increase of 7.5%. “, expressed to TVA Nouvelles the office of the mayor and the executive committee of the City of Montreal.
However, some citizens have noticed a sharp increase in their property taxes.
This is the case of an owner who shared his tax bill with our journalist and whose property value increased by more than $100,000, leading to a tax increase of nearly $100.
“We realized that the property assessment, the assessment of the City of Montreal is significantly higher compared to last year and in recent years,” mentions Younes El-Moustir.
This situation has a considerable impact on the real estate market.
“It has artificially inflated, in the sense that today, we are trying to sell condos below the assessment of the city of Montreal and we are not able to sell them,” maintains the real estate broker.
Despite everything, Montreal is ranked 18th among Quebec cities having suffered the highest tax increases.
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