Residential tax rate declined by nearly 8% year-over-year
In its 2018 Canadian Property Tax Rate Benchmark Report released last week, the Altus Group stated that a noticeable decrease in Quebec City’s residential tax largely stemmed from a recent drop in the region’s school tax rate.
This is because the overall tax rate in Quebec City (and in Montreal, as well) incorporates both the school tax and the municipal tax.
“While the residential tax component has barely changed between 2017 and 2018, the school tax rate has dropped by more than 35% in Quebec City, from 0.2074 in 2017 to 0.1336 in 2018,” the Altus report stated.
As a result, Quebec City’s residential tax per $1,000 of assessment went from $10.930 in 2017 to $10.114 this year, representing a 7.47% decline.
Read more: Quebec residential inventory shrinks to 7-year low
“With the introduction of Bill 166, the Government of Quebec has standardized the school board tax rates down for all properties,” the report explained.
“This bill stipulates, that for the years of 2018-2019, a school taxation system applicable throughout Quebec except on the Island of Montreal, establishing that a school board’s tax rate will be the same as the lowest rate imposed by a school board, Anglophone or Francophone.”
