The two-billion dollar town

The value of all properties in the Town of Brome Lake increased by 25.2% over the last three years. The dramatic jump in value reflects what most people in town know: prices are through the roof. As you can see in the chart below, the big jump was in properties worth more than a million and in vacant lots with services such as sewer, water and hydro. Taxes will not rise by those inflated numbers said the mayor in a release. “As we can see throughout Quebec, the pandemic has upset the real estate market and this is reflected in the data from this three- year exercise,” said Richard Burcombe. “The future council members will review these figures and take them into account in the coming weeks as we begin to prepare the 2022 budget estimates. I want to reassure our taxpayers that council has the tools, such as reducing the tax rate, to mitigate a drastic increase in the tax bill.” 

Type / Immeuble Change (%) / Variation (%)  Residential Values / Valeurs résidentielles Change (%) / Variation (%) 
Residential / Résidentiel 24,7  0 to /à $124,999 11,6 
6+ units / Six logements et + 7,6  $125,000 to/à $224,999 22,1 
Non-residential / Non résidentiel 10,7  $225,000 to/à $499,999 21,6 
Industrial / Industriel 6,9  $500,000 to/à $999,999 28,3 
Serviced vacant lots
Terrains vagues 66,7 
$1,000,000 and over/et plus 30,2 
Total 24,7 % 
Agricultural and forestry
Agricole et forestier 51,4 
Total 25,2 %