The Greater Montréal Real Estate Board welcomes the adoption of a resolution by the City of Montréal aimed at spreading out new property values over three years

L'ÎLE-DES-SŒURS, QC, Oct. 14, 2016 /CNW Telbec/ - The Greater Montréal Real Estate Board (GMREB) welcomes the adoption by the City of Montréal's Executive Committee of a resolution to spread out the newest property values over a three-year period. This announcement, made yesterday by the City, will help mitigate the effects of changes in property values – for those that are higher than average – on the property taxes of Montréal homeowners. Recall that the average increase in property assessments in September was approximately 6.2 per cent.

"We were pleased to learn of the implementation of this measure, despite the moderate increase in property values," said Daniel Dagenais, President of the GMREB Board of Directors. "The Greater Montréal Real Estate Board advocates for conditions that promote access to homeownership and a fluidity of transactions. The GMREB, like the municipalities, wants to ensure that conditions for acquiring a property are favourable – particularly for young families who are looking to buy their first home," he added.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with more than 9,000 members: real estate brokers. Its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.

SOURCE Greater Montréal Real Estate Board

For further information: Manon Stébenne, Manager, Communications and Public Relations, Greater Montréal Real Estate Board, Tel.: [phone], ext. 157, [email protected]