The valuation roll represents the inventory of all properties on the island of Montreal, indicating the quantity, the characteristics and the value of each property. It covers all residential, commercial, industrial, institutional and agricultural properties. As the assessment of properties within the City of Westmount is the responsibility of the agglomeration of Montreal, the valuation roll is prepared by the Direction de l’évaluation foncière of the City of Montreal.
Some renovations or improvements will not necessarily increase the value of your property by an amount equal to their cost.
For instance, spending $10,000 to renovate your basement will not automatically result in a $10,000 increase in the value of your property.
You can consult the property assessment roll for the years 2017-2018-2019 of the City of Westmount by visiting the website of the City of Montreal or by clicking here. You may also consult a paper version of the roll by visiting the City Clerk`s office at City Hall during regular business hours.
The assessor uses three approaches: the comparison, the cost and the income.
The Comparison Approach
This approach is used to determine the most probable selling price of a given property by comparing it to similar properties that have been sold.
The Cost Approach
This approach is used to determine the most probable selling price of a given property by adding a property’s land value to the depreciated cost of the building. This cost is obtained by subtracting depreciation from the current replacement cost new which includes labour and materials.
The Income Approach
This approach is used to determine the most probable selling price of a given property by capitalizing its net operating Income at a rate stemming from similar type properties that have been sold.
The new valuation role, which comes into effect on January 1, 2017, is valid for 2017, 2018 and 2019. It is the basis for your property tax bills for these three years.