Montreal hikes residential taxes 4.1 per cent, highest since 2010

The City of Montreal announced an average tax rate increase of 4.1 per cent for residential properties in the city centre on Tuesday. It will be the highest tax increase since 2010. Residential property taxes collected by the city centre will go up an average of 4.1 per cent in 2023.

Valerie Plante's administration at the City of Montreal released its 2023 budget Tuesday, and it includes the largest tax increase since 2010.

Residential property taxes collected by the city centre will go up an average of 4.1 per cent in 2023.  "With this budget, the city has done everything possible to limit tax increases, while maintaining high quality municipal services," said Plante in a statement.

The tax increase varies by borough and property valuation, with Ile-Bizard residents seeing the largest increase at 6 per cent, Mercier—Hochelaga-Maisonneuve is second with 5.7 per cent and Côte-des-Neiges—Notre-Dame-de-Grâce is third with 5.4 per cent. The Ville-Marie borough seeing the smallest increase -- far below the others -- at 1.7 per cent, with Montreal North and Saint-Leonard at 3.2 and 3.3 per cent, respectively. "Of course it is going to be difficult for some families. So I guess what we’re trying to do here is to limit or at least take some pressure off as much as we can," said Plante.

The city estimates that for a home worth $567,000, the average value for a residence, the tax increase will be $164 a year.

But that amount can vary depending on the borough and type of property.

Here's the breakdown by borough:  

Many homeowners recently saw a big jump in their municipal evaluations, even as the real estate market cools off.