Montreal property taxes are on the rise in 2018, lead mostly by an increase in the water tax rate which is on the rise for the first time since 2013.
The 2018 city budget recently introduced by mayor Valerie Plante includes an average residential tax increase of 3.3 percent, with some increases as high as 5.6 percent. This ‘transition budget’, as it has been described by the administration, will pull in 64.8 percent of its total funding from property tax, or close to $3.6 billion. The government is also increasing its overall budget to $5.4 billion, up 5.2 percent from 2017
How will the tax increase effect me?
The following is a breakdown by borough for the average residential property tax rate increase. Note that there is further variation based on the type of residence (condominium, multiplex, single-family home, etc.)
- Ahuntsic-Cartierville: 3.5%
- Anjou: 2.8%
- Côte-des-Neiges—Notre-Dame-de-Grâce: 4.2%
- Lachine: 2.1%
- LaSalle: 0.7%
- L’Île-Bizard–Sainte-Geneviève: 2.5%
- Mercier-Hochelaga-Maisonneuve: 3.7%
- Montréal-Nord: 1.3%
- Outremont: 4.5%
- Pierrefonds-Roxboro: 3.1%
- Plateau—Mont-Royal: 3.2%
- Rivière-des-Prairies—Pointe-aux-Trembles: 2.8%
- Rosemont—La Petite-Patrie: 5.6%
- Saint-Laurent: 1.7%
- Saint-Léonard: 1.4%
- Sud-Ouest: 3.4%
- Verdun: 2.4%
- Ville-Marie: 3.2%
- Villeray–Saint-Michel–Parc-Extension: 5.4%
The 2018 budget will invest heavily in public transit and infrastructure, including on the city’s water infrastructure, which according to the mayor’s office ‘requires significant investment’ going forward. While the overall effect of this budget will not be seen for some time, experts worry increased taxes may lead to a decrease in the number of families moving to Montreal, and may negatively impact quality of life for existing home owners.
What are your thoughts on the 2018 budget? Share your comments below.