Tag Archives: property values
Biggest property tax increases expected in Davenport, Willowdale neighbourhoods
Andrew Livingstone – Toronto Star
Homeowners in the Davenport and Willowdale neighbourhoods will likely end up paying more property tax next year, based on recent assessments.
But they’re also the neighbourhoods with the highest increases in property values.
“Our values are consistent with the trends and patterns in the real estate market,” said Joe Regina, with the Municipal Property Assessment Corp. which assesses properties across the province. “These are generally in high demand (and) it’s outpacing their supply.”
Parkdale-High Park, Trinity-Spadina, Rosedale, Davenport and Willowdale all came in well above the average 22.8-per-cent increase in the value of city homes since 2008.
The assessments, which are done every four years, will be used to calculate property taxes in 2013. To cushion the impact, the increased assessments are phased in over four years, with the average assessment going up 5.5% per year to reach the full amount in 2016.
The key to determining a tax bill is where a property ranks with respect to the average in the municipality. If the increase in assessment has been above average, the homeowner will see a tax increase; if it’s average there will be no change; and if it’s below average, the resident will get a tax decrease.
Homeowners in hot real estate neighbourhoods are at highest risk of seeing their property taxes go up in 2013.
Davenport ranked highest out of Toronto’s 44 wards with an increase of 33.72%. Wards 23 and 24, both in Willowdale, were the next highest with 31.44% and 29.56% increases, respectively.
Property assessments in Trinity-Spadina rose 29.25%, Rosedale jumped 28.73%, and Parkdale-High Park was up 27.03%. Rouge River in Scarborough recorded a 27.41-per-cent jump in assessed value.
Wards in North Etobicoke, Centre Etobicoke and York West were well below the average. Assessed value of York West properties increased 13.98% (Ward 8) and 14.97% (Ward 7). In Etobicoke North they rose 15% (Ward 1) and 16.03% (Ward 2), while Etobicoke Centre wards increased 16.64% (Ward 3) and 17.39% (Ward 4).
Due to the variety of buyers in the market it’s hard to pinpoint what areas will be hot, however neighbourhoods in the vicinity of the subway lines are popular for first-time buyers, said John Pasalis, president of Realosophy Realty.
“These areas are most affordable,” Pasalis said. “Neighbourhoods like the Dovercourt area, they’ll be popular.
An area with houses around $600,000 or close to downtown and near the subway will be in high demand, Pasalis said, adding some areas in the east end, like Leslieville, remain affordable, but he imagines that won’t last long.
The Toronto Real Estate Board home index lists the Junction Triangle/High Park area as having the highest increase in house values measured over five years – not four, like MPAC – at 41.77%.
Pasalis said “blue chip” areas will remain in high demand for second-time buyers and families looking to upgrade and focus on quality schooling.
“Davisville, Riverdale, the Beach, they’re still within reach for most second-time buyers,” he said. Houses in the $750,000 to $850,000 range are still available to dual-income families with kids in those areas, he added.
Sales in condo-centric areas like Liberty Village and City Place will slow in the coming years, Pasalis said.
If the market cools and prices begin to dip, condo owners looking to upgrade to something bigger might be caught in a tough spot, he said.
“Some young condo owners are buying houses first before selling their condos and they end up being in a pinch if it doesn’t sell on time,” he said. “It’s already starting to create challenges for some people, and I think that’s going to continue.
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Contact the Jeffrey Team for more information – 416-388-1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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Bedford Park
The Toronto Real Estate Board’s neighbourhood definition places Bedford Park within a larger neighbourhood, called Bedford Park-Nortown. The border of this larger area extends to Bathurst Street on the west, Highway 401 to the north, Hillhurst Boulevard (just north of Eglinton Avenue) to the south, and zigzags from northeast to southwest along Yonge Street and Avenue Road.
Bedford Park began as a farming hamlet north of Toronto. The hamlet was a popular stopover for farmers making their way to market in the city. The neighbourhood was likely named after the Bedford Park Hotel, which opened in 1873 at the southwest corner of Yonge Street and Fairlawn Avenue, just north of Lawrence Avenue.
In 1890 Bedford Park was amalgamated with the hamlets of Davisville and Eglinton to the south, and incorporated as the City of North Toronto. In the same year, the Metropolitan Street Railway of Toronto began service to the area, encouraging residential development.

Bedford Park
Bedford Park is bisected by Yonge Street, lying north of Lawrence Avenue and east of Avenue Road. The northern boundary is Brooke Avenue on the West side of Yonge, and Snowdon Avenue to the east of Yonge. The eastern boundary is Ronan Avenue. There is also a school at Yonge and Lawrence called Bedford Park Public School.
Most of the original Bedford Park homes were built between 1890 and 1940. Bedford Park was originally conceived as a middle class housing development on the northern boundary of the city, with mid-sized detached and semi-detached homes. The relocation of the Rosedale Golf Club in 1909 to the section of the Don Valley northeast of Bedford Park brought about development of the more expensive neighbourhoods of Lawrence Park and Teddington Park. This has skyrocketed the property values of Bedford Park homes.
Bedford Park’s quiet streets, mature trees, good schools and parks, and proximity to Highway 401 and Lawrence subway station attract young professionals and their families to the neighbourhood. Many of the original homes still stand, with a number having undergone extensive renovations. Many of the original homes in the neighbourhood have been torn down and replaced with larger, more modern homes.
—————————————————————————————————–
Contact the Jeffrey Team for more information – 416−388−1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
—————————————————————————————————–
Incoming search terms





















