5. ASSESSMENT VALUES

Plate 11 shows the assessed value of land per square foot, and Plate 10 shows the assessed value of buildings per square foot of land, both on a block basis. These plates indicate that the highest assessed value for both land and buildings for the most part are concentrated along Portage Avenue. The south side of Portage Avenue has the higher assessed values which reflects the higher investments along this side of the street. The major retail stores and some of the major office buildings of the Downtown are located here.

The assessed value of land declines in a fairly uniform manner in a southerly and northerly direction away from Portage Avenue. This regression is what would be expected because the higher value uses are located around Portage Avenue, the central axis of the Downtown.

The [XMLmind] value of buildings per square foot of land declines in a similar manner to that of the assessed land values. However, there are some notable exceptions. For example, along Broadway there is an increase in assessed value of buildings although it is not as high as the Portage Avenue assessed values. Also, there is a section between Memorial Blvd. and Kennedy St. extending from Portage Ave. to Broadway which carries the same high assessed values as those observed along Portage Ave.

Plate 10 shows a strip of low ($0.01-$2.50 per sq. ft.) building assessment bounded by St. Mary Ave., Main St., York Ave., and Edmonton St. This reflects the absence of buildings in this area, which is comparatively open, and dominated by grade level parking.

The blocks containing major buildings in the study area stand out with the highest assessed value of buildings per square foot of land ($15.01 and over). Examples of such buildings are: The T. Eaton Co. retail store and mail order, The Hudson's Bay Co. store, the Norquay building, the Post Office, the Investors building, and the Monarch Life building.

Table 4.5, the assessed value of land by block, shows that there are 60 blocks or 74% of the 81 blocks in the study area with an assessed value between $0.01 and $5.00 per square foot of land. There are only six blocks with an assessed value between $12.51 and over $15.01. Five of these blocks are located on the south side of Portage Ave., between Vaughan Street and Donald Street.

Table 4.6, shows the tabulation of the assessed value of buildings per square foot of land by block.