4. ANNUAL RENTAL VALUE

The Annual Rental Value is the basis for the business tax in Metropolitan Winnipeg. The Assessment Department of the Metropolitan Corporation derives the Annual Rental Value, which represents a fair evaluation of the amount each business premise should be rented for, and which can therefore be used as an indication of relative market value of a business expressed in dollars. This value would reflect the condition and age of the premises and the supply of appropriate premises in specific locations throughout the study area (and throughout Metropolitan Winnipeg).

The dominant non-residential establishments (by industrial classification) with respect to the annual rental value in Downtown Winnipeg are the retail trade establishments which account for 39% of the total or $4,751,400 in 1966. The next largest group of establishments are in the Finance, Insurance and Real Estate industry which has 21% or $2,527,300 of the total annual rental value in the Downtown study area. This is followed by the personal service establishments which have 12% of $1,423,800 of the total.

These three groups dominate the Downtown with respect to floor-use, annual rental value and number of employees and are obviously the largest generators of activity in the study area. The government operations, although not included in the annual rental value analysis should also be included with the dominant industries by virtue of their significant floor area and large proportion of employees.

Examination of the Downtown with respect to annual rental value shows a pattern of grouping similar to the grouping of the industries themselves. For example, the retail establishments are concentrated primarily along Portage Avenue, and secondarily between Graham and York, which is the same pattern as observed in the occupied floor area, the highest concentration of annual rental values, and the analysis of employees, the data for which are given in Section 6.