Hamilton’s ranking in relative tax burden compared to other municipalities is poor with many property classes among the highest in the province.The Office Building and Large Industrial classes ranked close to average, and some commercial zonings are below the average tax burden.
Hamilton uses a group of other municipalities – including all in the Golden Horseshoe – as comparators. Hamilton’s residential taxes for a detached bungalow are 9% above the comparator average.
Hamilton’s property taxes are approximately 4.3% of an average household’s income, the average of comparators is 4%. Hamilton’s lower average income contributes to the above average ranking.
Commercial property taxes are significantly below or above average depending on the category of the business. Office buildings are 18% below average, whereas neighbourhood shopping centres are 25% above average.
Much the same with industrial. Large industrial properties are taxed 28% below average, standard industrial taxes are 26% above average.
Read the Full Report Below:Watch Live Coverage of Council’s Audit, Finance, and Administration meeting on Wednesday starting at 9:30am