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2022 Budget adopted: New solutions to diversify revenue sources

Published on 08 February 2022

At an extraordinary meeting held on Monday, January 24, Ville de Châteauguay’s Municipal Council adopted its budget estimates for 2022, including, among other things, the indexation of the tax rate to below the inflation rate. Apart from this thorough process carried out in close collaboration with the municipal administration, Mayor Éric Allard also proposed new ways of carrying out an in-depth review of the management of the municipality’s revenues and expenses.

New Assessment Roll Filed

As prescribed by law, the City filed its new assessment roll valid for the years 2022 to 2024. Effective as of January 1st of this year, it reflects the market value of the buildings in the municipality as of July 1, 2020. By virtue of the exceptional context related to the COVID-19 pandemic and the sharp price increases in the real estate market, the value of an average house in Châteauguay rose from $259,400 to $320,977, a 23.74% increase.

Guided by a principle of fairness and the desire to not pass such an increase on to its citizens, the City considerably reduced its tax rate to offset its impacts. The new combined rate, including the mandatory contributions to the Autorité Régionale de Transport Métropolitain (ARTM) and the Communauté Métropolitaine de Montréal (CMM), is 0.7762 per $100 of assessed property value, for an increase of 2.9%* compared to 2021.

Creation of a Finance Committee

Several major projects are to come, notably the upgrading of the water treatment plant, the oversizing of water supply piping and the construction of a new auditorium, an indoor aquatic centre and a new police station. To ensure that they have the resources to carry out all these future projects, the Allard administration has defined a new vision to diversify its sources of revenue. Building on a tangible and formative development plan for the industrial park, the administration intends to take advantage of its land sale (more than $30M) and property tax ($2M) potentials, while promoting the densification of new residential and commercial real estate projects.

At the same time, the City will officially form a Finance Committee at the next regular council meeting, scheduled for February. The committee will be tasked both with reviewing the management of expenses and revenues and with conducting a detailed analysis of the roles the municipality has taken on over the years to obtain an up-to-date and detailed overview of its financial situation. Following that, in collaboration with its different partners, it will be given the appropriate tools to determine what directions to take in terms of services, but without burdening citizens with new taxes.

*The Consumer Price Index (CPI) was 4.7% last November.

Press Release

2022 budget presentation (in PDF format, French version only)

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