Property Assessment Roll 2025-2026-2027
An average increase of 51.8% for the Brome Lake housing stock
The year 2025 marks the coming into force of the new assessment roll for Brome Lake.
According to data provided by the independent firm of accredited appraisers Jean-Pierre Cadrin et associés, the value of the municipality’s real estate holdings will rise from $2.14 billion to $3.25 billion.
Although property assessment is the basis for calculating municipal taxes, an increase in property value does not automatically result in a higher tax bill. It is a combination of the tax rate, set when the municipal council adopts the budget in December, and the value of a property that will determine the amount.
Highlights:
- The new assessment roll will come into effect on January 1, 2025, for the years 2025-2026-2027.
- The value of Brome Lake’s real estate will increase from $2.14 billion to $3.25 billion.
- Average home value to rise from $507,700 to $772,200
- These values reflect market conditions on July 1, 2023, as stipulated in the Act respecting municipal taxation.
Here are the main changes in property categories and residential values:
Type | Change (%) |
Residential | 52.3 |
6+ units | 45.9 |
Non-residential | 37 |
Industrial | 30.4 |
Serviced vacant lots | 92.1 |
Agricultural | 50.6 |
| Forestry | 47.5 |
| Total | 51.8% |
| Residential Values | Change (%) |
| 0 to $124,999 | 32.7 |
| $125,000 to $224,999 | 51.8 |
| $225,000 to $499,999 | 57.1 |
| $500,000 to $999,999 | 52 |
| $1,000,000 $ and over | 50.7 |
| Total | 52.3% |
How is the value of a property determined?
There are three methods that an independent evaluator can use to determine the real value of a building:
- The cost method, which involves determining what it would cost to rebuild a similar property, but taking into account its deterioration;
- The comparison method, which consists of establishing the value of the property based on the observation of transaction conditions for similar properties;
- The income method, which consists of establishing the value of the property by discounting the income it generates or is expected to generate.
For more details on property assessment in general, consult this document (in French).
Information meeting
You’ll have the opportunity to learn more about the process at an information meeting on Wednesday, November 6 at 7 p.m. at the Centre Lac-Brome with representatives of the firm Jean-Pierre Cadrin et associés. Watch our platforms to find out when you can register to attend.
It should be noted that Jean-Pierre Cadrin’s representatives will not be able to answer questions on specific cases at this meeting, but citizens are invited to contact them directly by telephone at 1-877-843-1635.
Request for review
Taxpayers wishing to contest the new value of their property on the assessment roll can do so by following the instructions contained in the assessment notice mailed at the end of October. The deadline for submitting a request for review is April 30, 2025. To access the form and find out about the costs associated with a request, consult the Property Assessment section.
