Average increase of 1.8% in residential taxes

More than half (53%) of the owners of single-family homes will see their taxes rise less than the 2% rate of inflation. And for 20% of these, the fiscal burden will be lighter than that of the year just ending, according to the Ville de Laval 2007 budget tabled this past Monday.

"Taking into account the increases in property values, the owner of an average single-family unit will pay $2,359.59, reflecting a 1.5% increase amounting to $34.60 over 2006 figures," stated Mayor Gilles Vaillancourt. The typical home cited by the mayor was valued at $209,366 in the latest assessment, representing a record 45% hike relative to 2004.

By contrast, the taxable value for 2007 of this typical house was set at $166,035 by virtue of city hall's decision to spread the increase over three years.

The rate for properties of six or more units has been dropped by 17.6 cents to $1.28. In addition, the mayor also announced a freeze in water taxes, water treatment rates, regional public transit, and snow removal costs. However, the rate for the special infrastructure renewal tax climbs from 3 to 3.5 cents for every $100. When all residential taxes are calculated, the increase averages 1.8%.

Tax rates for empty lots also went through an adjustment, receiving a correction similar to that of the residential sector at 12.2%, necessitated by the gaudy increase of 73.8% in the latest assessed value.

The vitality of the building market in the last few years has put extreme pressure on vacant lots that are becoming more and more rare. The increased scarcity of these lots has driven their value to explosive levels. For 2007, the tax rate has been set at $2.38, a huge drop of 33 cents, and a reality that is more in line with the capacity of the owners to pay.