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By Jon C (anonymous) | Posted February 06, 2009 at 20:08:25
A Smith
You may want to check your numbers as residential rates don't apply to commercial property. While the tax rate in Hamilton is marginally more expensive (all other factors are comparable or cheaper) it is currently more expensive to hold vacant commercial land in Toronto than Hamilton
www.investinhamilton.ca/developmentchargestaxrates.asp
4.57% for land in use but reduced to 3.20% for vacant buildings/excess land
www.toronto.ca/taxes/property_tax/tax_rates.htm
Either 4.11% or 4.06% on the first million of value and 4.11% on the remainder (depending on usage) regardless of use.
So the numbers more or less prove the exact opposite of what you wrote.
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