Montreal commerical property taxes highest in country: report
A report released by Toronto-based market analyst firm Altus Group shows that Montreal commerical property owners are paying the highest taxes in Canada.
It says that on average, commerical property taxes are 4.4 times higher than residential ones - a revelation that doesn't surprise, and certainly doesn't please, local business owners.
The general manager of the St-Laurent merchants' association, Glenn Castanheira, says that is Quebec's policies towards Montreal don't change, the city's over-taxed merchants are going to do their business elsewhere.
He says small and medium-sized business owners are being weighed down with taxes because the provincial government is ignoring the city's importance as Quebec's economic engine.
"Montreal is treated like any other city," he says. "Therefore it is addicted to and depends on almost solely on the taxes on the properties."
The study states that Montreal's commercial real estate owners pay almost $40 in taxes per $1,000 of commercial assessment - a figure Castanheira says is largely shouldered by commercial tenants.
His and other merchant associations are urging the city's mayoral candidates to push for a better financing deal with Quebec City.