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By Balance (anonymous) | Posted January 22, 2009 at 10:34:33
A Smith, I was talking about property tax rates.
If I have a building building in Hamilton assessed at 500,000 and a tax rate of 1% my property taxes are $5,000.
The exact same building on a property in a GTA community is worth more and therefore assessed more let's say 1,000,000. The tax rate may be 0.5% but at the end of the day the end result is the exact same. The payment of $5,000 in property tax.
Do you get it? Looking simply at the tax rate makes no sense. You are not comparing apples to apples accross communities where values in property vary significantly.
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