Comment 30234

By A Smith (anonymous) | Posted April 17, 2009 at 21:04:39

Arienc >> what does the city do with the reduced revenue?

Why do you think revenue would fall? By cutting tax rates on property investments, the result would more capital flowing into Hamilton homes. New driveways, new additions, new landscaping, new decks, new roofs, etc. All of these investments into the housing stock would make the average home in Hamilton much more valuable then it is currently and the result would be higher assessments.

The city says it wants more investment, but it doesn't give people a good reason to invest. Cut tax rates on property investments and the increase in investment dollars will more than offset the reduced tax rate. People respond to incentives, so by increasing the return on property investments, the city will get more of them.

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