West Island city and borough property valuations have surged significantly, according to the Montreal Depot’s most recent three-year property valuation role filed Sept. 14.
Property prices across Montreal have risen by an average of 32.4%, while split West Island municipalities such as Senneville and Doralade des Ormeaux are facing increases of 45.9% and 45.1% respectively.
Increases of more than 40% were seen in St and Bellevue and Baie d’Urfe.
Dollard Mayor Alex Bottauschi was quick to point out that skyrocketing property valuations don’t mean the same skyrocketing residential property taxes.
“It comes down to homes being bought and sold in our community,” he explained. “Dollard’s) is showing how we’re going to divide up our internal budget. So that part could go up by $50 a year or go down by $20. That’s what we can adjust.”
But Bottausci said he expects the fees Dollard pays Montreal Agro for shared services to increase in 2023. Shared agro services include public transportation, police and fire services, drinking water and wastewater management.
West Island boroughs, including Racine (42.6%) and Pierrefonds Roxboro (40.8%), also saw large spikes in rating rolls. Saint-Laurent borough he was 39%.
Pierrefonds-Roxboro Mayor Jim Beis said many residents in his borough were already struggling to make ends meet. Future tax increases from Montreal’s agglomeration may pose additional challenges.
“I’m worried. We have a lot of elderly people, we have vulnerable people. Pierrefonds has lending offices that are working overtime because people are tied up (for cash),” he said. He said.
“How does this reflect the tax base? I don’t know. Montreal’s mayor Plante has yet to reveal what the tax increase will be, claiming it will be a cost of living. What does that mean? We always I’m used to 2-3 percent, but the cost of living I heard recently was about 8 percent, uh, 8 percent, if it’s (increase taxes) it’s the difference between keeping the house or losing it. may become.”
Beaconsfield property valuations rose 39.3%, with the average single-family home price rising to $1,034,500.
Mayor Georges Bourrel said: “This new role ensures that all Beaconsfield property owners see their property values growing faster than inflation.
Mayor Beaconsfield also said lowering the city’s factory rate to lessen the impact on the 2023 city tax bill would offset the nearly 40% increase on average.
“Taxes are mostly determined by a combination of property value and milling rate. The real estate market, which we do not control, determines the market value of a property, but it is the rice milling rate (Beaconsfield ) City Council, the equation isn’t perfect, but we’re trying to keep the impact below inflation, as we’ve been doing for the last nine years,” Bourrel said.
Montreal neighborhoods with the highest median home prices are Westmount ($2.6 million), Outremont ($2.1 million), Hampstead ($1.96 million), Mount Royal ($1.94 million) and Ville-Marie ($1.5 million) was.
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Source link West Island cities face soaring property valuations in 2023