Toronto homeowners may get a shock later this month when they open their property assessment notices to find the value of their home has jumped nearly 50 per cent.
The latest assessment data released by the Municipal Property Assessment Corp., which conducts assessments on more than 5 million residential properties in the province once every four years, show property values in the City of Toronto have appreciated 30 per cent on average over the past four years.
Across the city, property values for single-family homes jumped 36 per cent since 2012, to an average of $770,000, compared with a 12-per-cent gain for condos, which now have an average value of $363,000.
Here's a breakdown of how property values have changed across the city:
Property value assessments for City of Toronto
Click or tap arrow to see condo values
|Residential Overall Change per year since 2012||Single Family Home Change per year since 2012||Single Family Home Typical Assessment||Condo Change per year since 2012||Typical Condo Assessment|
|North York||7%||9%||$1.015 million||3%||$351,000|