Canadá

Montreal property assessments climb 13.7%

Montreal homeowners will see a major increase in their property assessment.

On average, residential and non-residential properties are going up 13.7 per cent, the city announced Wednesday.

The new assessments will take effect Jan. 1, 2020 and cover the next three years.

The previous average increase was 5.9 per cent.

The increases vary widely by borough and type of property.

Property values are used as the basis for calculating property tax.

However, an increase in value does not automatically translate into an equivalent increase in property taxes. The Plante administration has not yet announced the property tax rates for 2020.

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