Does Thunder Bay have the second highest tax rate in the province?
That question and recent report was discussed at Council Wednesday with McIntyre Ward councillor Albert Aiello maintaining that life is becoming unaffordable in our city.
“It’s hard to make ends meet. Taxes continue to go up people have a tough time paying taxes. I had a recent conversation with a gentleman who told me it’s hard to stay in his home,” Aiello says.
Zoocasa, a Toronto-based real estate firm, studied property taxes across Ontario using rates from municipal websites, and average real estate prices from real estate boards, to determine the actual cost of property tax per municipality.
Their findings found our city has the second highest tax rate at 1.57% while Toronto had the lowest tax rate at 0.6%.
The average cost of a home, according to the study, was much lower in Thunder Bay, coming in at $266,628, the second lowest in Ontario.
Neebing Ward councillor Cody Fraser called the report ridiculous.
“If you have a conversation with someone who lives in Schreiber, Terrace Bay, Dryden, Sioux Lookout, Fort Frances ask them ‘what’s your tax rate? What is your house worth? How much you pay in taxes?” remarks Fraser. “My house is worth $200,000 here in Thunder Bay and I’m paying about $2,200 in taxes, [I guarantee you] someone’s house that’s worth between 50 and 60-thousand dollars in Terrace Bay is likely paying the same in taxes.”
City Manager Norm Gale argued that the study was flawed as it only looked at tax rates not property values.