CANMORE CONDOS - KANANASKIS WAY ZONING DIFFERENCES THAT IMPACT YOUR INVESTMENT
KANANASKIS WAY offers some of the most affordable property options in Canmore, so it's not surprising that when people are searching around on MLS or Realtor.ca, that these condos attract a great deal of attention.
Before your invest, one of the most important things to be aware of are the ZONING DIFFERENCES between the various buildings on KANANASKIS WAY. In this area of Canmore, condo zoning differs from one building to the next, and more surprisingly in some buildings, from floor to floor.
There are 3 different types of home property zoning in Canmore:
1. Residential - The vast majority of homes in Canmore fall into this zoning category.
2. Tourist - This zoning allows for both regular residential use, as well as for short term rental options, such as allowing property to be put in a short term rental pool.
3. Recreational - Zoning of this type allows a maximum use of 28 consecutive days. This means that the property is not to be lived in on a full time basis.
Properties zoned as Recreational, will typically have a considerably lower listing price than an identical condo property with Tourist zoning because of the restriction on usage.
The various CANMORE CONDO zoning types on KANANASKIS WAY also impact property taxes. Residential tax rates are typically about half of the tax rate of a tourist zoned or recreational zoned property. The Town of Canmore website outlines the various Mill Rates used to calculate property taxes.
The Golden Rule: Before you invest, make sure you fully understand the zoning type of the property you're interested in, and the implications this may have both on the use of your home, as well as your property taxes.