Comment 34493

By A Smith (anonymous) | Posted October 06, 2009 at 13:54:20

Mississauga Property Tax Rates - 2009

Residential 1.0176%
Multi-Residential 1.6138%
Commercial 2.5185%
Industrial 2.8839%

Hamilton Property Tax Rates - 2009

Residential 1.5876%
Multi-Residential 3.9116%
Commercial 4.3239%
Industrial 6.1243%

If you choose to invest 500k in Hamilton, rather than Mississauga, this is how much MORE you have to pay in taxes...

Hamilton Mississauga
Residential: $7,938 $5,088
Multi-Res: $19,558 $8,069
Commercial: $21,620 $12,593
Industrial: $30,622 $14,420

As long as Hamilton charges tax rates that are 56% (Residential), 142% (Multi Res), 72% (Commercial) and 112% (Industrial) higher than Mississauga, how can the city expect to attract anything but small investments?

Does anybody think that investors want to pay, on average, 95% more in taxes just so they can locate in Hamilton? If so, please explain why you think this is?

Furthermore, who thinks that tax rates matter more than bike lanes when it comes to attracting tens of millions of dollars of property investments? Once again, please explain why you think this is?

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