Montreal residential property taxes will rise by an average 1.7 per cent in 2017, slightly less than last year’s hike, Mayor Denis Coderre announced Wednesday.
“It’s the smallest hike in the past nine years,” Coderre said. “We are meeting our pledge to cap tax increases at the rate of inflation.”
The Conference Board of Canada expects Montreal’s inflation rate to be 1.8 per cent in 2017.
Commercial property owners are getting off a bit easier. Their taxes will increase by an average 0.9 per cent in 2017, the same hike as 2016.
On the residential front, some boroughs will be hit harder than others, while others will see tax reductions.
The biggest increases will be in Rosemont-La-Petite-Patrie (2.6 per cent), Côte-des-Neiges-Notre-Dame-de-Grâce (2.5 per cent) and Outremont (2.4 per cent).
Meanwhile, LaSalle homeowners will benefit from an average tax reduction of 1.7 per cent, while in Anjou, the reduction will be 1.3 per cent.
The rate of tax increases varies by borough.
“Without a shadow of a doubt, Montreal is in better financial shape now than when we took office in November 2013,” Coderre said.
Budget highlights:
• The owner of an average single-family home, valued at $440,000, will pay $3,779 in taxes in 2017, a $62 increase compared to 2016.
• The city is giving an extra $35.6 million to the transit agencies that operate Montreal’s bus and métro network and the region’s commuter trains.
• The city is reducing the amount it plans to spend on snow-removal (a $5.8 million decrease) and waste management (a $4.8 million decrease). Costs have dropped thanks to centralized management of snow removal contracts and a drop in waste being sent to dumps.
• The city expects to spend $16 million on the November 2017 municipal election.
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