Downtown London - News

September 2014

  • London's downtown tax base eclipses $1-billion — a 61% increase over the past decade

    September 8, 2014

    London's downtown tax base eclipses $1-billion — a 61% increase over the past decade

    The City of London’s latest state-of-the-downtown report has identified further signs of growth downtown. For the first time ever, the value of its tax base has eclipsed $1-billion — a whopping 61% increase over the past decade!

    The report can be viewed here.

     

    Report highlights

    Tax base: Since 2004, property assessments have risen from $654,434,460 to $1,054,692,127 in 2013, up 61%.

    Growth: It hasn’t been uniform, but every downtown street has seen some.

    Vacant storefronts: On major pedestrian routes, they fell to 11.5% from 12.1% between 2011 and 2013.

    Visitors: More than one million — from the city, the region and beyond — in 2012 and 2013.

    Residents: More than 4,000 people live downtown, whose population swelled by nearly 75% from 1996 to 2011.

    Young: Most downtown residents are between 20 and 40.

    Income: The median household income has risen 46% over the last decade, from $34,667 to $50,553

     

    Further reading 

    AM980: Downtown London: Younger, Richer, Busier. 

    London Free Press: London's downtown tax base up 61%

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