Significant increase in property values in Sutton in 2023
–PRESS RELEASE –
Sutton, November 1, 2022—On January 1st, 2023, the Town of Sutton will apply its new three-year property assessment roll (2023-2024-2025). The total value of its real estate will increase to $1,665,432,900, an increase of $470,931,700 or 39.4%. As the summary below shows, all building categories will see an increase in value. The average value of a home in Sutton will increase by 37% to $468,093.
The three-year property assessment roll is the responsibility of the MRC Brome-Missisquoi. It serves to indicate, for municipal and school taxation purposes, the value of each property based on its real value. This exercise is based on the values of the real estate sales of the previous year namely in 2021. As the Suttonnian real estate market is booming, the figures shown are a direct reflection of this increase.
Preparation of the 2023 budget
As we enter the budget preparation period, the administration and the municipal council will try to reduce the impact of this new reality on the 2023 tax accounts, while ensuring that they present a realistic, reasonable, and responsible budget. Mayor Robert Benoit made it clear: “As we mentioned last year when we presented the 2022 budget, the Town of Sutton’s budget has been in a precarious situation for several years, forcing us to dip into the unallocated surplus each year to balance the budget for current operations. We will have to plan and manage carefully in order to regularize this situation while reducing the impact of the new assessment roll on citizens. ”
The new roll will be online in January 2023
The new property assessment roll (2023, 2024,2025) will be available online during the month of January 2023 on the Town of Sutton’s website, under the heading Services to citizens/Treasury/Assessment roll. An announcement will be published as soon as it is available online.
Please note that an application for review may be filed by any person who wishes to dispute the assessment of a property: the dispute process (in French only – form available in English) is governed by the Act Respecting Municipal Taxation and the application must be submitted before May 1, 2023. More information will be provided with the next municipal tax bill mailing.