Pleasant school tax bill surprise
PHOTO COURTESY SHUTTERSTOCK
Homeowners in the Montérégie were in for a pleasant surprise upon the reception of their recent school tax bill – it’s lower.
Following the 2020-2021 budget released by the CAQ government in which it reduced the tax burden of property owners by a combined $355 million, the new rate is set at $0.1054 per $100 of standardized property assessment.
Minister of Finance Éric Girard said in a media release, “This acceleration in the reduction of the school tax rate is an effective way to afford Quebecers financial flexibility when they need it the most. We are fulfilling our commitment to eliminate injustice between the regions by standardizing the school tax rate to the lowest rate in Québec. Lastly, it should be noted that the reduction of the school tax rate has no impact on funding for the education network.”
A home in the Montérégie region evaluated at $275,000 in 2018 was taxed at a rate of $0.17832 resulting in a bill of $446. With the adjusted rate, the new bill is $264, representing a savings of $182. The single school tax rate corresponds to the lowest effective taxation rate in Québec in 2018-2019, that is, the rate in the Laurentides region.