Some residential property owners in the city of Montreal may get some nasty surprises when they get their tax bills, with global tax hikes ranging from 1.1% to 5.3%.
The city of Montreal released its 2014 budget this morning, coming in at nearly $4.9 billion, an increase of 0.3% compared to last year.
While the budget boasts an average residential property tax increase of 1.9%, the global tax bill is dramatically different in several boroughs once you factor in the borough service taxes.
While Riviere-des-Prairies-Pointe-aux-Trembles sees an average decrease of 0.2%, it will actually be hit by a global 5.3% increase because of the added borough service tax at 5.5%.
Other boroughs hardest hit once the borough taxes are added in include Anjou (4.9%), Plateau-Mont-Royal (4.6%), Outremont (3.9%) and St. Laurent (3.5%).
Only seven of the 19 boroughs will see tax hikes hovering around the 1.9% average once the borough taxes are included: Ahuntsic-Cartierville, Lasalle, L'Ile-Bizard-Ste-Genevieve, Montreal North, Pierrefonds-Roxboro, Verdun, and Ville-Marie.
Something else that may alter the tax bill at the end of the day is property values.
Non-residential property owners will see an average 2% tax increase. But factor in the borough service taxes, and the increases range from 0.3% to 4.4%. The only borough seeing a decrease is Lachine (0.2%). The Plateau gets socked with the highest global non-residential property tax hike at 4.4%.
TAX INCREASES PER BOROUGH
Montréal North: 1.1%
St. Laurent 3.5%
St. Leonard: 2.6%
South West: 3.7%
Villeray-St. Michel-Parc-Extension 3.1%
City average: 2.8%