Higher-Than-Average Property Assessments For Some Toronto Homeowners
The wards across Toronto that have seen the biggest increases in property values include the Junction Triangle, Davenport, Toronto Centre-Rosedale, Trinity-Spadina and Willowdale.
These neighbourhoods are considered to be the most desirable and have above-average selling prices because they are in such high demand.
This CTV News article tells of one man who bought a home in the Junction Triangle 11 years ago, whose home value has more than doubled from $190,000 to $450,000.
A higher property assessment doesn’t always mean a more taxes, though. Toronto Real Estate Lawyer Bob Aaron wrote a column on this very subject, which is definitely worth a read if you’re a Toronto homeowner who just received their property tax assessment. Check it out here.