![]() In 1998, the average homeowner paid $1,830 in property taxes ( Table 1), Is limited to homeowning families (see Data source andĭefinitions). ![]() The portion of their rent attributable to property taxes, the analysis Income inequality in Canada? These questions are addressed using information ![]() How is this burdenĭistributed across families with different levels of income? Does theīurden vary among the provinces? Do property taxes contribute to after-tax They may be a particular burden for some homeowners. Since property taxes are not directly related to the ability to pay, On the full value of the property, not the owner's equity. Is a tax on an asset rather than a financial flow. Property tax is one of the three main taxes paid by households. Residential properties are usually taxed at lower ratesįor example, in Ontario the residential rate is 85% of the non-residential Referred to as 'mill rate' and expressed as dollars of tax per $1,000 Multiplying the assessed value of the property by the tax rate-commonly Homeowners pay property tax directly to their local government whereas Other sources of income include grants or subsidies Municipal governments levy such taxes annually on residential, commercialĪnd industrial properties. Revenue for local governments across the country. ![]() Regardless of the services provided, property taxes are the major source of 1 Furthermore, the level and mix of services may vary within provinces because of the autonomous authority granted to municipalities. The mix of services varies somewhat from province to province, since the framework for municipal services and financing is the domain of provincial governments. Municipal governments provide many of our most visible services: water, snow removal, garbage collection, policing, and fire protection. Please contact us to request a format other than those available. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Information identified as archived is provided for reference, research or recordkeeping purposes. ![]()
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