Owen Sound gets poor marks for taxes

Here is why downtown has so many vacant buildings. It almost makes me sick to my stomach.

Owen Sound gets poor marks for taxes

Owen Sound

by Kevin Bernard

Owen Sound is ranked 2nd worst in Ontario, when it comes to the rate commercial taxpayers face compared to residential rates.

The Canadian Federation of Independent Business looked the municipal tax rate in 201 communities across Ontario and found Toronto was the worst, and Owen Sound was 2nd.

In Toronto, Commercial property owners pay 3.28 times the rate of a homeowner.

In Owen Sound, businesses pay 2.29 times the residential rate.

In other words, if a homeowner pays 1000 dollars in taxes, a similarly valued commercial property faces a tax bill of 2,290 dollars.

CFIB Vice president Satinder Chera says the hope is that municipalities will see how unfair their tax rate is and move to level the playing field over the next 5 years.

Chera says small business is the backbone of a community like Owen Sound and you need to support them anyway you can.

If Owen Sound were to level the tax rate out ... with businesses paying the same rate as homeowners, Chera isn't sure tax rates would go up.

He says the province is uploading a number of services in the next few years which will free up millions in municipal budgets and it could allow tax rates to be equalized with little or no hike needed for homeowners.

The Vice President of the CFIB says municipalities must stop treating business like a cash cow.

www.getvertical.ca