Prop­erty val­ues in Ma­gog pass $4 bil­lion

Sherbrooke Record - - LOCAL NEWS -

TRecord Staff

he City of Ma­gog has reached the $4 bil­lion mark in terms of its to­tal prop­erty value, the City re­vealed Mon­day.

The new prop­erty as­sess­ment rolls on the value of homes, busi­nesses, in­dus­tries, and farm­land reached $4,153,000,000 and ac­cord­ing to ap­praiser Jean-pierre Cadrin, a com­par­i­son with other re­gions is dif­fi­cult to make, but it is still "of great value" for a mu­nic­i­pal­ity of more than 26,000 in­hab­i­tants.

Of this $4 bil­lion eval­u­a­tion, the ma­jor­ity comes from the res­i­den­tial com­po­nent, which sits at $3.3 bil­lion, mak­ing the av­er­age value of a house in Ma­gog at $300,141.

For all real es­tate cat­e­gories, the av­er­age in­crease in prop­erty val­ues is 4.4 per cent com­pared to the last val­u­a­tion roll three years ago.

For Cadrin, the amount is a rea­son­able in­crease and is al­most com­pa­ra­ble to the an­nual in­crease in the cost of liv­ing. "We are far from the big in­creases of the past, be­cause we are re­turn­ing to the pat­tern of 30 years ago," he said.

In an­other his­toric peak in the Town­ship of Or­ford, the prop­erty eval­u­a­tion is at $1,054,384,400. Ac­cord­ing to the ap­praiser, this is a sig­nif­i­cant step, as the in­crease is mainly due to the value of houses. In ad­di­tion, there are no in­dus­tries in the Or­ford area.

For all build­ings, busi­nesses, and land, the av­er­age in­crease in the value of prop­er­ties is 10.2 per cent, which Cadrin said is rea­son­able, be­cause the in­crease is only slightly higher than the cost of liv­ing. The last role was done six years ago,

In Or­ford Town­ship, the av­er­age price of a house is $289,000.

The Ski & Golf Mont-or­ford Cor­po­ra­tion now eval­u­ated at $8.8 mil­lion for the en­tire prop­erty. The to­tal value of the golf sec­tor in­creased from $3.2 mil­lion to $3.7 mil­lion, while for ski­ing, the value in­creased by $433,000 to $5.1 mil­lion.

The largest in­crease in prop­erty value of the six mu­nic­i­pal­i­ties of the Mem­phré­m­a­gog MRC is in East­man with an av­er­age jump of 13.6 per cent over the six-year pe­riod, largely due to the Town­ships’ ris­ing pop­u­lar­ity. The av­er­age in­crease is 13.6 per cent, but va­cant land and busi­nesses in­crease by about 30 per cent and 21per cent re­spec­tively. The av­er­age cost of a house in East­man is $299,000.

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