In short · September 28, 2026
The value on the assessment roll (rôle d’évaluation) reflects the market on July 1 of the second fiscal year before the roll: July 1, 2024 for a 2026-2028 roll, July 1, 2025 for a 2027-2029 roll. To challenge it, you must compare with sales made around that date, not with today’s market.
What the law says
Section 46 of the Act respecting municipal taxation (Loi sur la fiscalité municipale, LFM) sets the rule: the property is assessed "as it exists on July 1 of the second fiscal year preceding the first of those for which the roll is made" (our translation). In other words, the condition of the property and the market are frozen at that date.
The value sought is the actual value: the exchange value on a free and open market, meaning the most probable price of a sale by mutual agreement (s. 43). The roll lasts three years (s. 14), and it is filed between August 15 and September 15 before it comes into force (s. 70).
| Roll | Reference date | General review deadline |
|---|---|---|
| 2025-2027 | July 1, 2023 | April 30, 2025 |
| 2026-2028 | July 1, 2024 | April 30, 2026 |
| 2027-2029 | July 1, 2025 | April 30, 2027 |
| 2028-2030 | July 1, 2026 | April 30, 2028 |
Why it changes everything when you challenge
The evaluator’s question is not "what is your house worth today?" but "at what price would it have sold on the reference date?" The City of Lévis puts it this way for its 2026-2028 roll: could the property have sold at the roll price on July 1, 2024?
The direct consequence: a 2026 sale on your street says little about a value on July 1, 2024. The comparable sales that carry weight are those close to the reference date, involving properties similar to yours.
This is also why the assessment often looks "low" in a rising market, and why a home’s asking price exceeds the assessment: our guide municipal assessment vs market value explains the gap and the comparative factor that measures it.
The condition of the property is frozen too
Section 46 freezes the property and the market at the same date: a defect that existed on the reference July 1 counts; a defect that appeared later counts less. During the life of the roll, however, the evaluator keeps the roll up to date by certificates when the property changes (addition, demolition). These changes lead to an amendment notice, which opens its own review window.
Official sources
Talk to a chartered appraiser in your area
For a plex, an income property, a file headed to the TAQ or any value you are seriously challenging, a chartered appraiser is the right person. Payotte has verified 30 in Quebec, one per sector, selected on public data, never on their budget.
Find the verified appraiser in my areaGeneral information based on public sources. This is neither legal advice nor a certified appraisal. A review request can also lead to a higher value.
Frequently asked questions
What is the reference date of an assessment roll?
July 1 of the second fiscal year before the first fiscal year of the roll (LFM, s. 46). For a 2026-2028 roll, it is July 1, 2024; for a 2027-2029 roll, July 1, 2025.
Why is my assessment lower than the market price?
Because it reflects the market on the reference date, about 18 months before the roll comes into force, and it stays the same for three years. In a rising market, the gap is automatic.
Can I use a recent sale to challenge?
It carries little weight if it is far from the reference date. The evaluator is looking for the value on that date: the comparable sales that count are those close to it.