News and Insights

Tax Alert | Quebec Property Assessment – Bill 67

Tax Development Oct 23, 2020

At the end of September 2020, the Government of Quebec introduced Bill 67 which, if enacted, will suspend article 174(19) of the Municipal Taxation Act. The article 174(19) of the Municipal Taxation Act allows property values to be revised, taking into consideration any negative impacts resulting from legal restrictions on the possible uses of a building.

In the case of the COVID-19 pandemic, any properties impacted by closures and reduced business stemming from restrictions imposed by the Quebec government will forfeit the possibility to appeal their market values.

Since Canada went into a state of emergency in early March 2020 to ensure public health safety and control the impact of
COVID-19, many levels of government have been working to provide relief for businesses. While jurisdictions nationwide have enacted legislation or relief measures to provide support and much needed financial aid, the introduction of Bill 67 in Quebec is likely to surprise business owners.

Many real estate sectors are experiencing the financial impact of temporary closures stemming from the state of emergency rules. These closures have restricted their ability to operate and generate income as a result. At the start of October, many major regions have returned to a Level-4 maximum alert stage, resulting in a month-long lockdown. While these efforts are to mitigate the risks to public health, they have increased the risks for businesses and have had a negative impact on their property assessments.

Regulations are constantly fluctuating to reflect the demands of the economy. In these unprecedented times, Ryan continues to advocate on behalf of our clients and ensure they continue to receive sound advice and fair assessments to alleviate their tax burden. Our experts are following the potential developments of Bill 67 and will advise our clients what potential actions can be taken to protect their rights.

As always, our role as your tax advocate and partner is the most essential service we offer you. At a time when many companies are facing negative economic impacts, Ryan is dedicated to finding solutions that lighten your expenses so your business can prosper.

More Information

If you have any questions about how any of these property tax changes might impact your organization, please do not hesitate to contact your Ryan representative.