Canadiens Say the Bell Centre Has Lost Value
According to Benoit Egan, an expert evaluator for the Montreal Canadiens, the Bell Centre opened in March 1996 at the cost of $240 million and is now evaluated at as low as $60 million. That low evaluation was disclosed in a trial between the city of Montreal and the club over the amount of taxes paid by the club to the city of Montreal.
The city of Montreal evaluated the building at $150 million between 2004 and 2006. The city asked the club for $29.2 million in taxes during this period. The club is contesting this amount with their own building evaluation. Should the club win the pending case, a tax return of around $12.2 million would be given back by the city.
A lot of money is involved, so let's see how this story develops in the coming weeks.
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