The Montreal executive committee has rejected a plan by the Plateau Mont-Royal borough to impose a new tax on property owners who want to convert a duplex or triplex into a condo.
According to an article in the Montreal Gazette, the committee disagreed with the taxation plan. Michael Applebaum, head of the executive committee said, “They want to make young couples and families pay a 10-per-cent tax on the value of the land, which will make home ownership even more difficult in this area.”
While residents might be pleased, Luc Ferrandez, the Plateau’s borough mayor isn’t impressed.
In the Gazette article it notes that Ferrandez “slammed the decision and said Applebaum was acting as a lobbyist for speculators and real estate agents.” Ferrandez went on to argue that the tax was supposed to slow the conversion of rental properties to condos. He argued that 600 tenants face eviction each year because of conversions.
He said, “People are in my office in tears because they don’t know where they are going to go.”
Sounds to us like this taxation issue might not be over yet.