The City of Montreal has just released its new triennial property assessment roll for 2026–2028. Marking a turning point for property owners across all sectors.
While the overall growth in assessed values is far more moderate than in the previous cycle, the disparities between property types and boroughs remain pronounced, and the implications for businesses are significant.
Overview of the 2026–2028 Montreal Property Assessment Roll
The average increase across all property types reaches 12.2%, a sharp contrast with the 32.4% hike observed in the 2023–2025 roll, and even below the 13.7% rise recorded in the 2020–2022 cycle.
This clear slowdown reflects a market that is stabilizing after years of exceptional growth, especially in the residential sector, while commercial and industrial segments are evolving in very different directions.
Industrial properties stand out once again with values jumping +39% on average, driven by sustained demand for logistics and manufacturing space. Non-residential properties follow with an average +19.4% increase, while the office market continues to feel the weight of structural changes, showing an 8.2% decline in assessed values due to persistently high vacancy rates and the ongoing redefinition of workspaces.
Sector-Specific Changes: Industrial, Commercial, and Office
These numbers also reveal strong geographic contrasts across the island. Boroughs such as Montréal-Est (+33.3%) and Anjou (+22.6%) experience some of the sharpest increases. While more central districts like Ville-Marie and Westmount see far gentler adjustments.
Such territorial variations highlight how local market dynamics, including zoning, redevelopment projects, and changing land use, shape assessment outcomes.
Geographic Disparities Across Montreal Boroughs
It’s important to remember that a higher assessed value doesn’t necessarily mean a proportional rise in property taxes. Each year, the City of Montreal adjusts its tax rates through the municipal budget process to balance overall revenues. The real impact on tax bills will only become clear once the 2026 municipal budgets are released.
Why Assessment Increases Don’t Always Mean Higher Taxes
The new roll, which takes effect on January 1, 2026, is based on the market conditions as of July 1, 2024. It serves as the foundation for municipal and school tax calculations for the next three years. Beyond reflecting market appreciation, it also integrates new developments, renovations, and changes in property usage, all of which influence how properties are valued.
How Montreal’s Property Assessment Is Calculated
For business owners, this triennial update represents both a risk and an opportunity. The most proactive organizations will use this period to review and validate their new assessments, identifying potential overvaluations before the April 30, 2026 deadline for filing review requests. When discrepancies are found between the assessed value and true market reality, the potential tax savings can be substantial.
Action Steps for Business Owners: Reviewing and Contesting Assessments
From a broader perspective, the evolution of Montreal’s assessment rolls tells a compelling story about the city’s economic trajectory. Over two decades, the total assessment base has grown from around $385 billion in 2020 to $610 billion in 2026, underscoring Montreal’s long-term real estate resilience despite cyclical fluctuations.
| Roll Period | Average Increase | Context |
|---|
| 2020–2022 | +13.7% | Post-2016 stabilization and recovery |
| 2023–2025 | +32.4% | Post-pandemic surge and market overheating |
| 2026–2028 | +12.2% | Market normalization, office sector decline |
Montreal’s Real Estate Trends: Two Decades of Growth
This normalization marks a return to balance. But for commercial, industrial, office, and hotel property owners, the challenge now is to ensure that their assessments accurately reflect reality, and that they’re not paying more than they should.
At Leyton, our experts are already working with clients across the Greater Montreal Area to review their new valuations, prepare documentation for reconsideration requests, and secure fair, optimized fiscal outcomes. The key is to act early and strategically, turning regulatory updates into genuine financial advantages.
