{"id":7739,"date":"2026-03-12T09:00:25","date_gmt":"2026-03-12T13:00:25","guid":{"rendered":"https:\/\/northhatley.info\/2026\/03\/12\/estimation-des-revenus-fiscaux-lies-au-projet-de-condos-du-parc-de-la-riviere-a-north-hatley\/"},"modified":"2026-03-19T12:20:44","modified_gmt":"2026-03-19T16:20:44","slug":"estimated-tax-revenue-from-the-parc-de-la-riviere-condo-project-in-north-hatley","status":"publish","type":"post","link":"https:\/\/northhatley.info\/en\/2026\/03\/12\/estimated-tax-revenue-from-the-parc-de-la-riviere-condo-project-in-north-hatley\/","title":{"rendered":"Estimated tax revenue from the Parc de la Rivi\u00e8re condo project in North Hatley"},"content":{"rendered":"\n<p>Several discussions and comments are currently circulating on Facebook regarding the proposed condo project in the center of Parc de la Rivi\u00e8re. Here is an estimate of the revenue this condo project could generate for the Village of North Hatley.<\/p>\n\n\n\n<p><strong>WARNING:<\/strong> This is an <a href=\"https:\/\/www.lerefletdulac.com\/infolettre\/bientot-de-nouveaux-logements-au-coeur-de-north-hatley\/\">approximate calculation for a project consisting of 20 residential condos and 2 commercial units at Parc de la Rivi\u00e8re in North Hatle<\/a>y.<\/p>\n\n\n\n<p>In this scenario, we assume the construction of 20 residential units sold at $700,000 each, as well as two commercial units, one sold for $750,000 and the other for $950,000. The objective is to estimate the revenues the municipality could collect in the form of transfer duties (welcome tax) and annual municipal taxes.<\/p>\n\n\n\n<p>The total property value created by this project would reach approximately $15.7 million. More specifically, the 20 residential condos would represent a value of $14 million, while the two commercial units would add $1.7 million to the municipal assessment roll.<\/p>\n\n\n\n<p>The rates used are confirmed in the municipal by-law on real estate transfer duties of the Village of North Hatley.<\/p>\n\n\n\n<p>Reference: <a href=\"https:\/\/www.northhatley.org\/wp-content\/uploads\/2024\/02\/Reglement-2024-753-Concernant-les-droits-de-mutations-immobilieres.pdf\">https:\/\/www.northhatley.org\/wp-content\/uploads\/2024\/02\/Reglement-2024-753-Concernant-les-droits-de-mutations-immobilieres.pdf<\/a><\/p>\n\n\n\n<p>Quebec law allows municipalities to increase the rate on the portion above $500,000 up to a maximum of 3%, which North Hatley has done.<\/p>\n\n\n\n<p>Reference: <a href=\"https:\/\/www.quebec.ca\/gouvernement\/gestion-municipale\/finances-fiscalite-municipales\/fiscalite\/droits-mutations-immobilieres\">https:\/\/www.quebec.ca\/gouvernement\/gestion-municipale\/finances-fiscalite-municipales\/fiscalite\/droits-mutations-immobilieres<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Transfer duties (welcome tax)<\/h3>\n\n\n\n<p>In North Hatley, transfer duties are calculated as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>0.5% on the first $62,900<\/li>\n\n\n\n<li>1% from $62,900 to $315,000<\/li>\n\n\n\n<li>1.5% from $315,000 to $500,000<\/li>\n\n\n\n<li>3% on the portion above $500,000<\/li>\n<\/ul>\n\n\n\n<p>For a residential condo sold at $700,000, the welcome tax is approximately $11,610.<br>Thus, for 20 residential condos, the municipality would collect approximately $232,200 in transfer duties.<\/p>\n\n\n\n<p>For the two commercial units:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Commercial condo at $750,000: approximately $13,110<\/li>\n\n\n\n<li>Commercial condo at $950,000: approximately $19,110<\/li>\n<\/ul>\n\n\n\n<p>In total, transfer duties generated by the entire project would reach approximately $264,420 for the municipality.<\/p>\n\n\n\n<p>This is a one-time revenue, collected upon the first sale of each unit.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Annual municipal taxes<\/h3>\n\n\n\n<p>The municipal budget indicates a residential tax rate of approximately $0.7132 per $100 of assessment, to which municipal services are added, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Water: approximately $917<\/li>\n\n\n\n<li>Sewer: approximately $221<\/li>\n<\/ul>\n\n\n\n<p>For a residential condo valued at $700,000, the total annual municipal tax would be approximately $6,130.<br>For 20 residential condos, recurring tax revenue for the municipality would therefore reach approximately $122,600 per year.<\/p>\n\n\n\n<p>For commercial units, the tax rate is slightly higher, leading to the following estimates:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Commercial condo at $750,000: approximately $6,956 per year<\/li>\n\n\n\n<li>Commercial condo at $950,000: approximately $8,508 per year<\/li>\n<\/ul>\n\n\n\n<p>In total, municipal taxes generated by the entire project would represent approximately $138,081 per year.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Long-term municipal revenue<\/h3>\n\n\n\n<p>Projected over a 10-year period, the municipal taxes generated by this project would represent approximately $1.38 million for the municipality.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Summary<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total welcome tax: approximately $264,420<\/li>\n\n\n\n<li>Annual municipal taxes: approximately $138,000<\/li>\n\n\n\n<li>Municipal revenue over 10 years: approximately $1.38 million<\/li>\n\n\n\n<li>Total property value added to the roll: $15.7 million<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Context<\/h3>\n\n\n\n<p>For a municipality the size of North Hatley, with approximately 700 residents, such a project would represent about $138,000 in additional annual tax revenue, or nearly $200 per resident per year in new municipal revenue (excluding related expenses).<\/p>\n\n\n\n<p>These revenues could help fund infrastructure maintenance, municipal services, or the repayment of certain municipal debts.<\/p>\n\n\n\n<p>However, it is worth noting that the lifeguard at the municipal beach costs $68,000 per summer in 2024, which represents $97.14 per resident per year \u2014 likely exceeding $100 per resident by 2026.<\/p>\n\n\n\n<p>Increasing revenue is a good thing, but it must be accompanied by effective cost control. When expenses grow faster than revenues, debt inevitably follows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>On that note, happy municipal tax season!<\/strong><\/p>\n\n\n\n<p>Photo credit: <a href=\"https:\/\/www.lerefletdulac.com\/infolettre\/bientot-de-nouveaux-logements-au-coeur-de-north-hatley\/\">https:\/\/www.lerefletdulac.com\/infolettre\/bientot-de-nouveaux-logements-au-coeur-de-north-hatley\/<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Several discussions and comments are currently circulating on Facebook regarding the proposed condo project in the center of Parc de la Rivi\u00e8re. Here is an estimate of the revenue this condo project could generate for the Village of North Hatley. WARNING: This is an approximate calculation for a project consisting of 20 residential condos and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,36],"tags":[],"class_list":["post-7739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-municipality-en","category-opinion-en-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Estimated tax revenue from the Parc de la Rivi\u00e8re condo project in North Hatley<\/title>\n<meta name=\"description\" content=\"There are currently several discussions and comments circulating on Facebook regarding the proposed condo project in the center of Parc de la Rivi\u00e8re. 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