Hanpstead Taxes and Evaluations

Montreal released the tax roll for 2011-2012-2013 today. The news is good for Hampstead. Our overall increase is 16.2%, the second lowest on the island. The average increase for the Agglomeration is 22.4%. This means that Hampstead’s share of the Agglomeration tax burden will decrease relative to most other suburbs and Montreal. In other words, our Agglomeration tax increase will be less than all other island municipalities other than CSL which had the lowest increase.



That is not the only good news. The overall tax increase is affected by the mix of properties in a municipality. Those with more condos had the larger increases as condos are increasing in value faster than other types of property. Hampstead has very few condos. Looking at only single family homes, Hampstead had the second largest increase of the seven wealthiest suburbs compared to the 2007 evaluations. We have the second most expensive homes on the island and we are narrowing the gap with Westmount (most expensive homes) and increasing our lead over TMR (third most expensive). This is an indication that more and more people want to live in our beautiful town. It also means that homeowners are wealthier, at least on paper.