Comment 38949

By More roads (anonymous) | Posted March 21, 2010 at 18:40:16

According to the 2010 budget process document, non-residential assessment in Hamilton is 12.6% of total assessment. In contrast, the average of Ontario municipalities (>100k residents) is 17%. Yet, even with this low level of taxes from Hamilton's business sector, the residents of Hamilton still have the privilege of losing our entire waterfront to heavy industry.

Burlington, a city without a large industrial presence, has 17% of its revenues from the non-residential sector. Is it possible that by allowing heavy industry to dominate our waterfront, we are actually reducing the smaller scale, but higher tax revenue businesses that Burlington seems to have?

If I was advising council, I would suggest they immediately buy the Stelco property (which could likely be had for no more than $500M) and start turning it into a large scale version of the west harbour.
If done properly, this would be some of the most valuable real estate in the city, producing much more in tax revenue and employment than a 100 year old steel factory.

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