Mayor Steve Black is weighing in on a recently released Fraser Institute study, which claims Timmins is facing the fastest growing property taxes in Ontario. He says it is important to note it looked at property taxes over a 10-year period. He says the report didn’t catch him off guard, as the city lost some major industrial players in that time frame. That includes the Xstrata metallurgical site, and Grant Forest Products. Black says that equals out to a loss of almost $3 million in industrial taxes,  which were then transferred over to the residential and commercial tax classes.

Black says when residents have to eat up an additional $3 million in taxes that were once paid for by the industrial side, it’s a tall increase to handle. He says northern Ontario has seen the largest increases, as five of the top 10 communities outlined in the study are in the north. A lot of that is being attributed to changes in taxes, and loss of taxes on the forestry and mining front.

Black says bringing new industrial investments into the city will help to offset some of the residential tax burden. He says the city is working on doing just that, and has had some success in doing so.

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Timmins facing the fastest growing property taxes in Ontario