435,190 Buildings
City assessor Francine Godin today tabled the 2007-2008-2009 assessment rolls for the 16 municipalities of the Montreal urban agglomeration.
The overall value of the 435,190 buildings on the territory has reached a record high of $188 billion. Based on the current roll, this means an increase of approximately 39% in real estate wealth. In the urban agglomeration, property assessments increase by 47.4%, on average, in the residential sector, and by 23.7% in the non-residential sector.
In the 16 municipalities of the Montreal agglomeration, taxable value increases vary between 21.1% and 42.5%. The increase varies between 27.6% and 53.5% in the 19 Montreal boroughs.
The assessment rolls of the Montreal urban agglomeration alone represent approximately 30% of Quebec’s real estate value. Some $3 billion in taxes are collected annually on the basis of property value.
The assessment roll is subject to the Act respecting municipal taxation. Property assessment reflects current values as of July 1, 2005. According to the law, the Quebec minister of municipal affairs and the regions has developed performance indicators to ensure assessment roll quality throughout Quebec.