Québec Triennial Assessment 2025–2027: What You Need to Know
Tax Development
Starting in November, taxpayers in certain Québec municipalities can expect to receive their property assessment notices for the 2025, 2026, and 2027 taxation years. Québec operates on a rotating triennial assessment cycle, with the following municipalities included in the upcoming 2025 assessment cycle:
Laval
Québec City
Longueuil
Sherbrooke
Saint-Jean-sur-Richelieu
Trois-Rivières
Saguenay
Repentigny
Blainville
Saint-Hyacinthe
Granby
Vaudreuil-Dorion
Mascouche
Saint-Eustache
The new roll reflects a state and condition date of July 1, 2023. Non-residential property taxpayers with assessments valued over $3 million should have already received their notices, and many municipalities now have the 2025 values available online.
It is important to note that any assessment challenges and appeals must be filed by April 30, 2025. After this deadline, changes to the assessment roll will not be possible, barring a few exceptions.
Key Trends
Initial values show increasing vacancy rates and lower values in the office sector, likely because of the rise in remote work.
While demand for retail space continues to decline, assessment values for retail properties remain strong and have not seen a significant change since the last cycle. This is especially true for sites connected to grocery store operations. Current leasing conditions seem to favor tenants in regional commercial centres, with more leases now linked to sales performance to minimize risks.
The industrial market has seen significant value increases, attributable to increased selling prices for industrial buildings, assets, and vacant land across the province.
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals.
