Montreal unveils $6.7B budget: more taxes, bigger police force

The City of Montreal unveiled its $6.76 billion budget Tuesday morning.

It represented an increase of $300 million compared to last year.

Residential taxes are going up an average of 4.1 per cent. That’s below the current rate of inflation, which is estimated at 6.9 per cent. Commercial taxes are going up 2.9 per cent.

The tax increase will vary by borough and property valuation.

“We built this budget based on the current economic context, which is marked by inflation and the robust recovery of Montreal,” said Mayor Valérie Plante. “The rigorous management of public funds that we have been conducting for the past five years allows us to continue to accelerate our investments in the priorities that we share with the population: ecological transition, housing, public safety and mobility.

“This budget demonstrates our desire to protect the wallets of Montrealers as much as possible, while ensuring that we deliver the services they expect, and leave behind a resilient and safe city that leaves no one behind.”

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Housing

The City of Montreal says it is committed to increasing affordable housing and providing more support for tenants. The budget is pledging $480 million for the development of affordable housing over the next 10 years.

Police

The SPVM’s budget will be increased by $63 million and will total $787 million in 2023. The city says those funds will be used to hire 270 additional police officers. The city says $10 million over five years will go towards the Mobile Mediation and Social Intervention Team.

Transit

The city is investing $507 million over 10 years to development its cycling network.

Eco-fiscal initiatives

Montreal says it’s planning two eco-fiscal initiatives. The city wants to tax the owners of parking lots that are bigger than 20,000 square metres. It also wants to tax businesses based on their water consumption.