Will taxes match eye-popping valuations? Plateau, Sud Ouest assessments soar

September 16, 2010 MONTREAL - Smoking-hot real-estate markets for revenue properties in the boroughs of Plateau Mont Royal and the Sud Ouest have pushed both neighbourhoods to the top of the tax assessment heap in the city of Montreal.

That good news for potential sellers of those properties - and potentially bad news for those expecting a tax bill from the city of Montreal - is contained in the assessment roll for Montreal Island for 2011-2013, which was unveiled yesterday.

Assessments for all types of properties - commercial, industrial and residential - increased across the island by an average of 22.4 per cent compared with the roll that covered 2007-2010.

The average increase in property values for the city of Montreal was 23.5 per cent, while the average for its 15 suburbs was 21.58 per cent.

The suburban average increase is skewed by the whopping 59.9-per-cent assessment increase on Dorval Island. A municipality containing all of 58 summer residences, it is so tiny an arrow indicating a dot on the south shore of Montreal Island had to be edited onto the map during yesterday's presentation of the roll just to show where it is.

With Dorval Island removed from the equation, the average assessment increase for the suburbs is 18.8 per cent. The largest assessment jump occurred in Montreal East (24.6 per cent), closely followed by the cities of Ste. Anne de Bellevue and Montreal West, both at 23 per cent.

The lowest average assessment increase (11.2 per cent) occurred in Côte St. Luc.

The assessment roll, while handy for those interested in seeing what their home is worth on the real-estate market, is also used by Montreal Island's 16 municipalities as part of a formula to levy taxes needed for their annual budgets.

Normally, the rule of thumb is that a property owner whose assessment increase is above the average in his or her municipality can expect to see some kind of tax hike, while those below the average will pay the same or enjoy a decrease.

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Marlene Ofter

Marlene Ofter

Certified Real Estate Broker
CENTURY 21 Max-Immo
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