Montreal recently doubled a special tax assessed on non-residential downtown parking lots in the hopes of spurring residential development. But could the tax drive employers out to the suburbs?
A special tax introduced in 2010 on all non-residential parking lots in downtown Montreal was "quitely" doubled on surface parking lots in the city’s November 2012 budget, reports Allison Lampert. According to city spokesperson Darren Becker, the targeted rate hike is intended to “get rid of the [outdoor] lots to promote residential development."
"The higher parking taxes come at a time when Montreal property owners are already facing rising municipal tax bills because of soaring land values," notes Lampert. "Rising taxes, combined with the housing boom fuelled by low interest rates, have prompted several owners like Modico to sell off their well-located parking lots to condo developers."
"The city of Montreal has been encouraging this trend, by changing zoning to allow for the development of taller buildings, which favours more dense residential development and public transit use."
"But higher taxes on parking lots could become an additional cost of doing business that could drive more Montreal companies out to the suburbs, some commercial real estate experts warn."
“Companies are going to have to take this cost into account when they are renewing their leases, or deciding to move downtown,” said Andrew Maravita, managing director of Colliers’s Montreal bureau in an October interview.
The city, however, isn't concerned.
“There have been some increases, but we don’t think it’s going to chase anyone (companies) out to the South Shore,” said Becker. “It’s up to the owners to decide whether to raise prices.”
FULL STORY: Montreal tax on parking lots doubles
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.