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By A Smith (anonymous) | Posted October 04, 2010 at 19:53:35
Hamilton needs tax reform, NOT more spending.
Hamilton tax rates 2010
Residential 1.538%
Commercial 4.113%
Industrial 5.842%
Burlington tax rates 2010
R - 1.039%
C - 2.328%
I - 3.639%
For every $1 million in new residential investment, Hamilton charges residential investors $15,380 in taxes. That same investment in Burlington costs only $10,390.
A $1 million investment in commercial property costs $41,130 in Hamilton, yet in Burlington, investors only pay $23,280. Last but not least, Industrial taxes per million dollars of investment cost $22,030 more in Hamilton than Burlington.
If the goal of the city is to increase the amount of new investment into this city, the best way to do this is to allow investors to keep more of their money. Like Ryan says, tax something more and you get less of it.
However, if the city's real goal is to keep our reputation as a poor city, high tax rates and high spending will do the trick.
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