Full standardization of the school tax

 

 2 July 2020

To afford individuals and businesses greater financial flexibility during the COVID-19 pandemic, the government is moving ahead to July 1, 2020 the reduction of the single school tax rate.

The government had already announced in Budget 2020-2021 an additional reduction of nearly $182 million in the tax burden of property owners that attained two-thirds of the anticipated reduction. The addition of nearly $173 million is enabling the government to announce today full standardization this year.

Accordingly, property owners will benefit from a $355-million reduction in their tax burden for 2020-2021.

The school tax rate applicable to Québec for the period from July 2020 to June 2021 will thus be set at $0.1054 per $100 of standardized property assessment.

All told, the reductions announced last year and this year represent an annual saving of $622 million for taxpayers.

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