The real estate frenzy is reflected in the municipal valuation of properties in Levis, which rose by an average of 11.6%.
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The city released its 2023 to 2025 assessment list on Monday, and we see significant increases in all types of property values.
At the top of the list, farms rose in value by 27.5%, while serviced vacant lots rose by 24.1%. The value of single-family residences increased by 12.2% compared to the previous list. In buildings with six or more units, the increase is 12.5%.
Industrial (11%), commercial (9.1%) and condominiums (4%) bring up the rear.
So the median value of a single family rose from $290,000 to $329,700.
It reflects the market situation from 1R July 2021, as required by law. The new post will be effective from 1stR Next January.
“The new values will serve as the basis for the calculation of municipal taxes for the years 2023, 2024 and 2025. The effects of this new role will be known by the 2023 budget presentation scheduled for the end of 2022”, indicates. City by press release.
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