In 2025, Montreal owners will face a smaller increase in residential property taxes than the 4.9% jump imposed this year, the Plante administration assured Friday.
“It’s certain that we will not be at 4.9%,” said the president of the executive committee Luc Rabouin at a press conference. He recalled that Ms. Plante was elected by promising that her tax increases would never exceed the inflation rate for the Montreal region.
Taxpayers should not expect a tax freeze, however. Rabouin described the evolution of municipal finances in recent months as “really difficult.” “Our revenues are still down,” he said. “Despite a recovery in the real estate market, there is no impact on our revenues yet.”
Mr. Rabouin appeared before the media to present the 2023 financial results of the City of Montreal.
City Hall finished last year with a surplus of $187 million on a $6.8 billion budget, or just over 2 per cent. “It’s a small surplus,” he said. “It’s not much.”
In response, the official opposition at city hall argued that the City of Montreal is “on the verge of a financial crisis.”
“The city’s coffers are empty,” attacked Alan DeSousa, finance spokesperson. “Ms. Plante’s spending party set the City’s finances on fire. »
