Property assessment roll 2013-2014-2015

Published on by Association des Propriétaires du Québec

Topic(s): Real estate

Property assessment roll 2013-2014-2015
Some municipalities have seen their property assessment roll changed for the years 2013-2014-2015. The growth of the real-estate pool inevitably leads to increases in property taxes and therefore to an additional expense for a rental property owner.

The APQ reminds you that property taxes are one of only two expenditures that an owner can transmit for a 100% to his tenant. It is therefore important to take into account the increase in property taxes before issuing the notice of rent increase.

According to the calculation form issued annually by the Régie du logement each owner must make the actual calculation and this calculation includes the difference between the amount of taxes of the previous year and the one of the current year.
So, for the 2013 increases:
Municipal taxes: 2013 Amount – 2012 Amount
School taxes: 2012-2013 Amount - 2011-2012 Amount

This increase is only taken into account during the year you will be subjected to this tax increase. If you send your notices too early (before receiving your tax account of 2013) or if you want to spread them (forbidden under the rules of setting a price of rent by the Régie du logement), you lose your due.

Here are some cities that will experience a new assessment: The property assessment roll for the years 2013-2014-2015 reflects market conditions as they were on 1 July 2011.
Quebec: the Quebec City metropolitan area sees its real-estate pool increase by 23.2%.
Chateauguay: The increase in the value of taxable property is over 15%.
Montmagny: 16.2% in the residential sector and 9.5% in the commercial one
Trois-Rivières: 13.8% all taxable property combined

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