The Canadian “Experience Exchange Report” annually compiled by BOMA makes this comparison on the Canadian real estate market: the average real estate tax paid in 1998 was $3.89 sq.ft., while the 1999 tax paid moved up to $4.65 sq.ft., an increase of almost 20%. The good news, BOMA reports, is that net operating income (NOI) increased by about 24%. That increase can be attributed to improving office market condition around such large Canadian urban centers as suburban Toronto, Ottawa, and Vancouver.
Based on a report from BOMA’s Potomac Currents
