By Madeline Kerr

Property values are going up an average of 46 per cent in Chelsea, according to the latest triennial assessment roll in the MRC des Collines.

The latest assessment, released Oct. 19, is based on the region’s real estate market as of July 1, 2022, and although the increase is high, Chelsea is assuring residents not to expect a similar increase on their tax bills next year..

“Council has not yet determined the tax rate, but we would like to reassure residents that this does not mean they will be taxed to the extent of the roll increase,” Chelsea Spokesperson Maude Prud’homme-Séguin told the Low Down. “Council will adjust the tax rate downwards to remain reasonable and strike a balance between the increase of the assessment roll, the cost of living, and the needs of the municipality.”

The property assessment roll is a summary of the inventory of buildings and vacant land located within a municipality, assessed on the same basis and on the same date. The assessment roll, which is in effect for three municipal fiscal years beginning on Jan. 1 of the year after the assessment is completed, is the basic tool for calculating the amount of municipal and school taxes in a municipality.

An information session will be held on Oct. 27 at 7:00 p.m in the basement of 220 Old Chelsea Road to explain the reasons for the increase, outline the process for requesting a review and answer questions residents may have, according to municipal Prud’homme-Séguin

She added that “the Municipality is in the middle of the budgetary period. The tax rate will be announced in December when the budget is officially adopted.”

Vacant land values in Chelsea saw the greatest increase, rising in value 54 per cent, while condominiums rose 37 per cent in value. Single-dwelling houses rose 46 per cent in value – the same as the average across all properties in the municipality. The average price of a single-dwelling house in Chelsea is now $663,800.