Comment 28516

By A Smith (anonymous) | Posted February 07, 2009 at 16:45:06

Jon C, >> I think a more apt comparison is that a condo in downtown Toronto is typically three to four times the price of one in Hamilton, thus the average homeowner in downtown Hamilton pays significantly less property tax on a similarly sized home than the average downtown living Torontonian no matter how some people would attempt to cherry pick and distort facts.

People don't buy homes primarily based on size, they buy into neighborhoods that have good employment opportunities, excellent shopping, dining and cultural establishments and where there is a general sense of prosperity. That is why homes in downtown Hamilton, although they are bigger than many homes in Toronto, sell for much less. If the city reduced the cost associated with owning property in Hamilton, people and businesses would have more disposable income and this would lead to more shops, restaurants and cultural offerings. This in turn would make the area more desirable and would drive up home prices.

Therefore, what people would lose in home size, they would gain in neighborhood experience.

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