Timmins is facing the fastest growing property taxes in Ontario, according to the Fraser Institute. The Canadian public policy think tank looked at the growth rate of municipal property taxes over a 10 year period, from 2005 to 2015. Timmins came out on top, with a growth rate of 5.7 per cent. Sudbury wasn’t far behind, going up by 5.2 per cent. Of the top ten communities, five were from northern Ontario. The average growth rate was 2.8 per cent across Ontario.
The Fraser Institute says the most disturbing part is that the growing tax burden does not include the rising cost of municipal water and sewer charges. The think tank says those prices are going up at a faster annual rate than residential property taxes, since 2005.
Read the full report on the Fraser Institute website.
Follow up story:
Black: $3M in industrial taxes shifted to residential side, creating high property taxes