Property values have jumped an average of 22.4 per cent across the island of Montreal, leaving some homeowners worried they'll soon see increase in their taxes.
Once considered a working-class neighbourhood, St. Henri is one of the areas that has seen a sharp increase in property values. In the last four years, the city's assessment roll has shown that the values have risen by 30 percent.
It's a simple pattern: wealthier people move in and drive up home values, which, in turn, drives up property taxes.
Some, like St. Henri resident Emily Arleau, say they hope they aren't forced out by the gentrification.
"I hope I won't have to move out, because I like this neighborhood a lot," Arleau said.
Tenants affected, too
One St. Henri tenant told CTV Montreal reporter Rob Lurie that many people in the area are struggling financially and simply can't afford any increases in rent.
Rent hikes are supposed to be regulated, but landlords often pass on part of their extra tax burden to their tenants.
Derek Robertson, who works with St. Henri tenants, said they often end up feeling trapped: they don't want to start giving their landlord more money, but they don't want to be forced to move out either. To avoid having to relocate, they simply give in to the landlord's demands.
Robertson says the situation is just as bad for some property owners.
"We have elderly folks that are coming and they're preoccupied by the fact that they have a revenue of $14,000 to $16,000 a year and they're going to have a tax bill for $3,000 to $4,000. They're coming to us (asking) what are they going to do? The city wants one quarter of their whole revenue," said Robertson.
Mayor Gerald Tremblay said his intention is to make sure the upcoming budget includes incentives for young families to stay in Montreal. But so far, there are no firm commitments to the elderly.
"The idea is to keep the elderly in their homes as much as we can, but it's not a Montreal problem it's a Quebec problem, and let's see if something can be done," Tremblay said.
