Expert analysis: Real estate development on the golf course would increase our taxes (Updated July 19)
How?
According to Peter Trent, the former Mayor of Westmount, who served on many intermunicipal boards over 20 years, Rosemere benefits from a very low residential tax rate. Because the law requires using the same tax rate for all new homes built, the tax revenue they would generate will be modest. In fact, the taxes paid by homeowners in a new residential project would not cover their increased demand on municipal services, resulting in bigger tax bills for every home to cover the shortfall.
Why would a new development not pay its way?
Up to one-half of any new tax revenue would be skimmed off to pay for an increased share of the costs of regional services (police, mass transit etc.) These costs are shared across a given MRC based on each municipality's total real estate value. Because Rosemère's real estate values are higher, any new development would necessarily entail a higher bill. Even if the developers of the former golf course paid for all the costs of building new infrastructure, there would still be increased costs for the Town.
That is not all…
Our commercial sector contributes45% of all taxes with very littledemand on the Town's services, heavily subsidizing the residentalsector. New development means stretching this subsidy to benefit even more homes, therefore increasing taxes forall.
Our elected officials should focus on attracting new businesses to fill currently vacant spaces, rather than will-o-the-wisp schemes that depend on the Town's limited residential tax rate as a source of new net revenue.
Read Peter F. Trent's analysis in response to the March 24 information session organized by the Town of Rosemère
June 18, 2021 - Impact of Real Estate Development on the Golf Course: Tax Increase for all Rosemere Residents - Expert Analysis by Peter F. Trent
New documents - July 2021
July 19, 2021 - Open Letter from Peter Trent to the Town of Rosemere
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