The City of Montreal’s property assessment department released its rolls for the next three years. Starting on Jan. 1, 2026, property values will increase by an average of 12.2 per cent. Projet Montreal leader Luc Rabouin calls the assessments good news. “That means the values of the properties are still increasing in Montreal,” he said. “It’s really better for people than what we had just after the pandemic.” Three years ago, property values saw a hike of more than 30 per cent, following the real estate frenzy during the pandemic. Industrial property on the rise Dorval Island (4.2 per cent) and Westmount (5.6 per cent) had the lowest increases due to their already high property prices. Montreal East’s increase, on the other hand, was the highest at 33.3 per cent. This is due to its high volume of industrial property, whose value has increased significantly. For Montreal’s boroughs, Anjou’s 22.6 per cent increase was the top, while Ville-Marie’s 5.8 per cent was the lowest. These rates are the base for property taxes, which are set to be announced in the fall during the City of Montreal’s annual municipal budget. “It should be noted that an increase in the value of a property will not automatically result in a corresponding increase in the tax bill,” the city said in a news release. A total of 514,614 units were evaluated, and the increase by the end of 2028 will be $610.1 billion, which the city says is “moderate growth.” The growth is based on the construction of new buildings, improvements to existing units and market changes. The report says that the average condo value in 2026 is set to be $549,600, while the average single-family home could be worth $927,300. Office space values decreasing Non-residential building values increased by 19.4 per cent, while industrial property increased by 39 per cent. Office space on the island, however, decreased by 8.2 per cent. “The decline in the value of downtown office buildings reflects a troubling economic reality,” said Isabelle Dessureault, president and CEO of the Chamber of Commerce of Metropolitan Montreal. “It’s not only the city’s economic vitality that is at stake, but also the sustainability of the fiscal pact. Revitalizing the downtown core must be a shared priority for all economic stakeholders in Montreal.” The opposition party at City Hall said it was also concerned by the numbers. “You have to address the question of homelessness, security, people need to be safe,” said Ensemble Montreal leader Soraya Martinez Ferrada. “If downtown doesn’t give you that perception and confidence, nobody is going to come downtown.” With files from CTV News’ Matt Grillo.
