The value of the Bell Centre "has shrunk" by more than $100M (all figures C) in six years as Montreal now values the downtown home of the Canadiens at $167.1M, a 13% "decline from the previous assessment," according to a front-page piece by Frederic Tomesco of the MONTREAL GAZETTE. Montreal in '13 valued the building at $276.5M. The figures "do not take into account the value of the arena's indoor parking lots." The Canadiens' parent company, Groupe CH, now pays almost $4M less in "annual property taxes than it did six years ago." The value of the Bell Centre has "long been a bone of contention between the Canadiens and the city." The team has "challenged several municipal evaluations" since the arena opened in '96. Almost a decade later, the Canadiens "took the city to court, arguing that their tax bill was more than eight times" the NHL average. The Canadiens have "repeatedly said they are the NHL's most highly taxed team." Montreal's latest valuation for the Bell Centre "reflects a court-approved depreciation formula" as well as the arena's revenue figures from '18. This is the "fourth time that Montreal has reduced the value of the Bell Centre" since '13 (MONTREAL GAZETTE, 11/7).
