Ontario Government Reducing High Property Taxes

by Robert Lee, Tax-News.com, London

18 July 2001

Finance Minister Jim Flaherty has confirmed that the government intends to match the City of Hamilton's municipal tax reduction on commercial and industrial properties. In a statement he said: 'I congratulate the City of Hamilton's Council for its continued efforts to reduce business property taxes. The City is committed to making amalgamation work and has demonstrated this by adopting a very aggressive tax cutting plan.'

The Province of Ontario has been a partner with the City of Hamilton in reducing high property taxes for the past three years. 'We are happy to continue that partnership to deliver more tax cuts this year,' added Flaherty.

The new tax cuts are in addition to the accelerated provincial education tax cuts provided to Hamilton's businesses this year. The government will provide a further cut by matching Hamilton's municipal tax reductions bringing Hamilton's total tax cuts to nearly CA$19 million since 1998.

The new City of Hamilton is the second-largest beneficiary of the Business Education Tax (BET) cut after the City of Toronto. 'The City has worked hard to put in place a proactive plan that will promote economic development and improve its tax competitiveness,' said Brad Clark, MPP for Stoney Creek and Minister of Transportation.

'The City of Hamilton has demonstrated that amalgamation works,' added Flaherty, 'We look forward to working with Hamilton to continue to deliver property tax cuts.'

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