Property assessments up average 13.7%
Property assessments will go up an average 13.7% as of next year. This covers three years and the whole agglomeration.
The city is promising to hold tax increases to an average 2%.
Update: Rising prices are accompanied by rising rates of homelessness, shelters noting a rise in the numbers needing assistance. Even for working people, salaries are not keeping pace with this surge in housing costs.
denpanosekai 18:02 on 2019-09-11 Permalink
Yeah I have a house in Verdun and the valeur imposable jumped by 200,000$ in 2 years. Bro these agents are calling me every other day. I guess that’s what I get for being on the registre foncier.
Faiz Imam 14:59 on 2019-09-12 Permalink
I hope we get updated data on real housing occupancy rates. There is the idea going around of wealthy investors buying units and keeping them unoccupied, but as prices rise, that makes less and less sense. Is that really something that is going on when you can rent out these units for such a high amount?
Plante has already spoken about a number of initiatives to counter rising prices, both around new development, more tennant rights as well as rules against inoccupancy. I hope we move forward on that as fast as possible.
Also, the role of Airbnb in this crisis can’t be understated, the rules Quebec came out with are a good start, but they are not enough.
Ephraim 20:55 on 2019-09-12 Permalink
There are now services that you can pay about USD$6 per address of the AirBnB. Seems to me that the city could use the service, send someone to check and then send a letter telling the owner that since it’s not being used residentially, that they will switch over to commercial taxes and what the commercial rate is. To avoid the commercial rate they need to show several bills to show that someone does live there and it isn’t being rented commercially. That might be enough of a shock, being an increase over about 400% on the property tax alone.