Quote:
Originally Posted by franktko
Jesus Christ! With a municipal evaluation of 870k you pay 27k taxes a year?? —???
Here in Mtl, with an evaluation around 580k I pay around 5k taxes a year...
It's because of the commercial part?
|
Partly, but it's also because the proper apples-to-apples comparison is between similar properties, not similar valuations.
What the city costs to run per year is mostly completely unrelated to the market value of its real estate. Municipal taxes reflect the former, not the latter.
For example, when real estate in Sherbrooke doubled over a few years, the new valuations reflected that, but the tax rate was pretty much halved, so with a whole bunch of buildings (i.e. a large-ish sample) my overall taxes stayed relatively similar even though the municipal valuations went up by more than 100% in many cases.
The wrong way to look at it (as I recall explaining to st7860 many times -- now that he's banned, I thought I wouldn't ever have to do it again

) is to say "nice, my tax rate got halved! I now pay only half the municipal taxes that I used to!".
The right way is "A given building with X units and Y square feet and Z stories used to cost $xxxx.— in municipal taxes in Sherbrooke. How does that compare to now and to other cities?"
I suspect that if your property, exactly as is, got teleported to Quebec City, you'd actually now pay less than ~$5k in municipal taxes for it. It seems high for what I suppose is a single family residential property. Then again, taxes in Montreal are pretty much the highest in the province, so it's not that surprising.