MINUTES – PUBLIC – FINANCE COMMITTEE – 5th meeting – July 3, 2026 – 8:05 a.m. to 9:30 a.m.

Presentation on Spreading Payments for Property Transfer Duties and Property Taxes

Martin Dalpé joins the meeting at 8:11 a.m. Richard Kouamé informs the members of the presentation's objectives, which aim to present various scenarios for spreading the payment of property transfer duties and property taxes, as well as their financial impacts, in order to obtain recommendations from the Committee.

The presentation begins with a reminder of the applicable legislative framework. It is specifically noted that since 2023, the City has offered the possibility of paying property taxes in four installments and that recent legislative changes now allow municipalities to consider staggering property transfer duties. A brief history of the implementation of these measures and their financial repercussions is also presented.

Different payment spreading scenarios are then exposed, accompanied by an analysis of their advantages, disadvantages, and administrative and financial impacts for the City and taxpayers. The next steps and the envisaged timelines are also presented.

The analysis carried out by the Finance Department indicates that spreading payments could promote home ownership and reduce the financial pressure on certain taxpayers. However, this measure would also entail additional administrative costs, increased management and monitoring needs, as well as a decrease in revenue associated with interest and arrears. It is emphasized that increasing the number of installments accentuates the financial and operational impacts for the City.

Finally, the Finance Department indicates that the option of spreading transfer duties into four installments would constitute the simplest scenario to implement, since it could rely on the mechanisms already in place for the collection of municipal taxes.

Discussion

Following the presentation, members ask questions aimed at better understanding the financial, administrative, and operational impacts associated with the different payment spreading scenarios. Discussions first focus on the financial repercussions of implementing the four property tax installments in 2023. The administration clarifies that, beyond the initial impact observed during implementation, the City annually foregoes a portion of the investment income it would have otherwise generated by collecting the sums more quickly.

Members then exchange views on the principle of equity associated with spreading property transfer duties. Some point out that such a measure would provide an advantage to a targeted group of taxpayers, while the resulting costs would be borne collectively. Government programs already in place to promote access to property are also mentioned in order to put into perspective the additional aid that such a spread would represent.

Clarifications are also requested regarding the payment terms currently provided for by legislation. It is indicated that the law already allows, in certain circumstances, payment in two installments, while the analyzed scenarios aim to go beyond this minimum requirement.

Timmy Jutras joins the meeting at 8:25 a.m.

Discussions also focus on the importance of the administrative costs associated with the six and twelve-installment scenarios. Some members question the scale of the additional resources planned. The administration explains that these costs mainly stem from the technological adjustments required, the maintenance or addition of staff to process citizen requests, as well as additional reminders that would have to be made to taxpayers.

Finally, questions aim to assess the real scope of the liquidity risk invoked by the administration. Some members question the need for such significant monitoring and reminder mechanisms, considering that transfer duties represent a relatively modest share of municipal revenues. In response, the Finance Department emphasizes that delaying the collection of several million dollars reduces the City's ability to generate investment income and adds additional pressure on cash management. It is recalled that the City must maintain sufficient liquidity at all times to meet its current obligations and fund its operations.

The session continues in camera from 8:50 a.m. to 9:08 a.m.

Update on the Long-Term Financial Plan – Work Plan Presentation

Richard Kouamé presents the progress of the work to update the Long-Term Financial Plan. He indicates that a working committee has been set up and has begun its work with the support of the firm Mallette. The work aims to update the financial plan by taking into account the evolution of the economic, demographic, and financial context while integrating best practices and improving analytical tools.

The process includes, in particular, the analysis of the City's strategic and financial documentation, the examination of the strengths and weaknesses of the current plan, the development of new financial scenarios, and the consultation of stakeholders, including elected officials and management. The work is expected to continue until the fall and lead to the production of an updated financial model as well as a final report, accompanied by a more accessible summary version. A presentation of the results to the municipal council is also planned.

The discussions mainly focused on the usefulness and scope of the future Long-Term Financial Plan. The members emphasized the importance of the document being well-aligned with the City's other planning tools, notably the strategic vision, the ten-year plan, and the Climate Plan, in order to effectively support decision-making.

The chair insisted on the need for the plan to remain a decision-support tool rather than an overly restrictive framework. They also emphasized the importance of consulting elected officials so that the document meets their needs and remains relevant over time. The discussions also highlighted the need to maintain a certain flexibility in the future plan, particularly regarding debt capacity, so that it can guide decisions without unduly limiting the City's possibilities for action.

Finally, it is requested to see the possibility for members of the Finance Committee to attend the working committee meetings as observers. The chair replied that the work must remain neutral and independent, while specifying that a progress report would be presented to the Finance Committee at a later date.