Owners of buildings with six or more residences plus vacant plots being offered in Quebec City will suffer steep tax increases in 2022, four to seven times more than the stated 2.2%, learned Newspaper.
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Victims of the new assessment list, many will face a very nasty surprise when they receive their municipal tax bill in January, which will inflate by several thousand dollars in some cases.
The rent bill for buildings of six or more units will rise by 8.3% on average, while it will rise by 15.3% on average for vacant land serviced (by water and sewerage).
Those whose value is above average will be more helpful.
Those numbers do not appear in Quebec City’s 2022 budget, which was released last week.
Provided by the Department of Finance at the request of magazine, which sought to find out the impact of the new valuation list for these two asset classes, was penalized for the explosion in their value.
When the list was scheduled last September, and then when the last budget was scheduled, the city actually warned that it would not be able to limit the impact of the new list to 100%.
She emphasized that these two categories will suffer a higher tax increase than the others, without further details.
The news has gone under the radar a bit as no percentage increase has been confirmed.
The fault of the law, the city says
Quebec City is usually able to “neutralize” the effect of submitting an assessment list every three years by adjusting tax rates downward for each $100 assessment bracket.
In other words, the city does not take advantage of rising values to fill its pockets, we repeat them systematically.
However, this year, Quebec City will generate $7.5 million in additional revenue generated directly from the new role.
She says her hands are tied under the Municipal Tax Act, which prevents her from intervening to further lower tax rates.
One explains that buildings with six or more units, for example, “cannot be less than those in one-to-five unit buildings.”
Affected by these increases are at least 4,970 appraisal units (six residences and more) and 1,812 plots of land in Quebec.
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