Homes in inner city moving on up
Assessed values increase 19 per cent
Neighbourhood watch
Between 2012 and 2014, the average Winnipeg residential property increased in value by 12 per cent, according to city assessments. Here are the average increases for the city's 10 residential market regions (as indicated in the map above):
Inner city: 19 per cent
Old Kildonan/West Kildonan: 17 per cent
Old St. Boniface/Old St. Vital: 14 per cent
Charleswood: 13 per cent
North Kildonan/East Kildonan: 13 per cent
St. James: 13 per cent
Tuxedo/River Heights: 13 per cent
Transcona: 12 per cent
Fort Garry: 11 per cent
New St. Boniface/New St. Vital: Nine per cent
In a case of good news and bad news for inner-city homeowners, residential property values in the oldest neighbourhoods are rising faster than in the rest of the city -- along with property-tax bills.
Chambers said starter homes in older neighbourhoods are becoming more expensive. But their owners have more equity, which bodes well for the long-term health of older neighbourhoods.
But the higher-than-average rise in property values also means the inner city now shoulders a greater share of the property-tax burden, a redistribution that should translate into higher-than-average property-tax bills this spring.
http://www.winnipegfreepress.com/loc...239381691.html
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Good news for some, others not so great. The last paragraph puts inner city homes at a greater value, but they will shoulder a higher amount of the tax burden.
This is positive in some respects as some of the un desirable, dilapitaed structures will now have a new lease on life. A reason for owners to renovate something that at one time should of demolished.
Take it for what it is..."Gentrification"