Filed every three years, the assessment roll represents the value of buildings in the territory, based on market conditions.
For example, a house valued at $225,000 is worth approximately $308,000 with the new assessment roll. This will come into force on January 1, 2025 for the financial years 2025, 2026 and 2027.
The excitement of the real estate market is largely responsible for this considerable increase.
The new assessment roll will come into force on January 1, 2025 for the 2025, 2026 and 2027 financial years. (Stéphane Lessard/Archives Le Nouvelliste)
“It depends on the transactions that take place and the renovations. The signal is that almost every time there has been a sale, the properties have sold for more than the assessment,” explains the president of the Saguenay Finance Commission, Michel Potvin.
The municipal councilor reminds that owners can contest the revised value of their property if they consider it excessive.
Municipal councilor Michel Potvin is president of the Finance Commission in Saguenay. (Tom Core/The Daily)
“There are always exceptions that can make it worth less, including a right of way or a busy road nearby,” cites Michel Potvin as an example.
Raise the taxes
To counter this dazzling increase, Michel Potvin indicates that the City of Saguenay will reduce the tax rate to zero, then it will readjust the rate.
“We are aiming for a rate below 3% and as close as possible to 2%.”
— Michel Potvin, president of the Finance Commission
The impact of the new assessment role, whether negative or positive, will be felt especially among citizens whose property value is outside the average increase of 37.4%.
“But the value of houses is fairly equal in the different sectors of Saguenay,” mentions the president of the Finance Commission.
The unveiling of the City of Saguenay’s budget for the year 2025 should take place on December 10.
A leap to Alma
Like several cities in Quebec, the assessment roll also jumped in Alma, with an increase of 27.77% in the value of single-family residences, housing and co-ownerships.
The City announced last week that the average value of an Alma residence increased from $204,000 to $269,000.
In total, this is an average increase of 20.51% for the real estate stock of Alma.
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