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If you live in Montreal and don’t want to spend a lot of your money on the necessities and pleasures of life, Hampstead might be the perfect place. But be ready to pay through the nose in taxes.

When you look at annual household spending by boroughs, the tiny demerged suburb is a big spender, but only a small portion of its cash goes to big items like housing, food, transportation and insurance.

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On the other hand, a huge chunk of households’ yearly spending — close to 40 per cent — go to the man in taxes. Not surprising, as Hampstead has the highest median income on the island, at $40,200.

The borough with the lowest share of household spending that goes to taxes? Montreal North, at 16 per cent. But on the flip side, necessities like food and housing take up a lot of families’ budgets: 13.5 per cent and 21 per cent, respectively.

These figures come from Montreal’s statistics bureau, which compiled the numbers for boroughs from 2014 Statistics Canada data.