While homeowners may complain about the amount they have to pay for property tax, the latest figures from the Real Property Association of Canada (REALpac) show that the ratio of commercial to residential tax paid in Canada’s municipalities is 2.79 to 1.
However in Toronto, Montreal and Vancouver the commercial sector contributes to taxes at a ratio of 4:1. Toronto is aiming to bring its commercial rates down to 2.5 times residential, while Montreal’s ratio is increasing although the actual cost to businesses is falling.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: