What is the Property Tax in Hamilton?

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Home to over 536, 000 residents, Hamilton is located about 1 hour south of Toronto. Sitting just next to the beautiful city of Burlington, Hamilton is a great place to live, work, and raise a family. If you choose to move to Hamilton you’ll want to take into account property taxes.

Property taxes are paid each year and can differ significantly depending on where you live. So what if you live in Hamilton? How much are property taxes there?

What are Property Taxes in Hamilton?

In Hamilton, property taxes are based on the assessed value of your home. This assessed value is set out by the MPAC (Municipal Assessment Corporation) who conducts an evaluation on all properties every 4 years. Keep in mind that the assessed value is not always the same as the market value and may vary slightly. 

Once the MPAC determines your assessed value, it’s then multiplied by the Hamilton Final Property Tax Rate, and this will determine what you owe in property taxes. The final property tax rate for Hamilton differs from year to year. 

In 2020, Zooasca compiled a list of property tax rates for over 35 different municipalities in Ontario. Hamilton did not fall among the highest, nor did it fall among the lowest of rates in the province. Rather, it fell somewhere in the middle with a property tax rate of 1.188611%. 

Among the cities with the highest tax rates were Windsor (1.775679%), Thunder Bay (1.562626%), and Sault Ste. Marie (1.530970%). Surprisingly, Toronto had one of the lowest property rates in Ontario (0.599704%), followed by Markham (0.628191%), and Richmond Hill (0.653108%).

What determines the Assessed Value of your home?

Multiple factors determine the assessed value of your home. The condition of the home, any renovations that have been made, and any structural updates all contribute to the assessed value. Features of your home such as a finished basement, a pool, an outdoor BBQ area, and so forth, can also affect your assessed value. 

Why do property tax rates differ from city to city?

Property taxes are a means of generating revenues for cities. And since each city needs a different amount of money to sustain its needs, the property tax rates differ. Individual city councils, then, are the ones who set the tax rates depending on the needs of the city. 

How can I calculate my property taxes?

If you live in Hamilton and would like to calculate your property taxes for any given year, you can use the Property Tax Generator provided on the city website.

You can find your property taxes by entering the assessed value of your home (if you know it), your address, or your roll number. You can also contact your municipal city council if you prefer.

In conclusion, Hamilton does not have the highest nor the lowest tax rates in Ontario. If you wish to determine your taxes you can use the tax calculator provided on the Hamilton website. Taxes are calculated by multiplying your assessed property value by the final property tax rate in Hamilton (which differs from year to year).

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Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.

Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.