Taken from the Welland Tribune:
Niagara could do more to attract industry and boost the economy if its industrial tax rates were lower, say St. Catharines councillors, calling on Niagara Region and the province to give businesses a break.
A report from David Oakes, the city’s economic development officer, says industrial businesses in St. Catharines and other Niagara municipalities pay more property tax than their counterparts in other areas.
The 2009 industrial tax rate in St. Catharines was 6%, compared to 4.8% in the rest of the province on average.
In cities with “red hot economies,” such as Kitchener and Barrie, the tax rates are even lower, said St. Andrew’s Coun. Andrew Gill, who asked for the report.
He said he wants Niagara to take a serious look at making industry more competitive by reducing the tax ratios for industry, and by asking the province to do the same for education taxes.
Councillors endorsed Gill’s motion at a recent St. Catharines council meeting.
Read the full article on the Welland Tribune website:
http://www.wellandtribune.ca/ArticleDisplay.aspx?e=2699625
