Comment 29727

By Steel (anonymous) | Posted March 25, 2009 at 16:24:44

@Mike B - Across the GTA property tax rates are negatively correlated with property values so that most cities end up charging about the same amount for a similar house and hence bring in around the same property tax dollars per person. A Smith thinks this proves that lower tax rates CAUSE higher property values. People who know how to think recognize that property values get steadily higher the closer you get to downtown Toronto, so the real situation is that closeness to downtown Toronto is what causes higher property values and cities just charge whatever rate will earn them enough money to run a city.

@UrbanRenaissance - Hamilton already did what mister broken record wants and it didn't do much aside from shift more tax burden onto residences. What Hamilton needs is not more bottom feeding companies attracted by low taxes but something to differentiate us from both downtown Toronto and from the surrounding areas that can sell closeness to downtown Toronto. So far we haven't figured out what that something is and bleeding ourselves dry in the meantime is no substitute.

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