Montreal budget: More than 22,800 small businesses to get a tax break

Business groups are praising the city of Montreal’s 2019 operating budget, which will cut property taxes for many small businesses.

“It’s very good news for small businesses in Montreal,” said Martine Hébert, a senior vice-president at the Canadian Federation of Independent Business. “Of course, there’s still work to do, but I think that we have to say bravo today.”

The budget will reduce the property tax rate on the first $500,000 of a non-residential building’s evaluation by an average of 9.9 per cent.

Fifty-seven per cent of non-residential buildings are valued at under $500,000, the city said, and will see the full decrease.

Buildings valued at between $500,000 and $2.9 million will see an average reduction of 3.2 per cent, while buildings valued between $2.9 million and $3.1 million will see an effect “more or less neutral,” the city said.

Buildings valued between $3.1…

Original published: 2018-11-08 23:03:59 Read the full Montreal News here

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