Mayor Doug White’s plan for more jobs in BWG: Let’s live where we work…and work where we live. I recently had the pleasure of meeting a couple who live on Sideroad 10 in a beautiful house on a three acre lot. They told me their property taxes were over $7000 per year and asked me what I planned to do about it. Their question is at the heart of why I ran for council, why I ran for mayor, and why I am running for re-election! Their question shows why economic development and bringing new businesses to town has been and will remain my top priority as Mayor. We need to reduce the tax burden on our homeowners by attracting more local businesses and increasing our industrial-commercial tax base. Residential property taxes are based on the value of your home as determined by the provincial Municipal Property Assessment Corporation (MPAC). Farm, commercial and industrial property taxes are determined the same way. The amount of property tax is determined by multiplying the MPAC assessment by the appropriate tax rate. In BWG, for example, a 100 acre farm assessed at $400,000 would pay ¼ the property taxes ($1140) of a Bradford home assessed at $400,000 ($4560). In 2014, the town will collect approximately $750,000 in property taxes from ALL farmland located in our municipality. Another example: The commercial property at 545 Holland Street West which includes Wal-Mart and a number of other businesses has an assessed value of $48,565,502. In 2014, the town will collect approximately $1,160,000 in taxes from this property and collect approximately $7 million from ALL commercial businesses located in our municipality. Another example: The manufacturing plant at 35 Reagens Industrial Parkway has an assessed value of $3,205,500. In 2014, the town will collect approximately $96,200 in taxes from this property and collect approximately $3 million from ALL industrial businesses located in our municipality. For further comparison... this businesses, situated on a three acre lot, pays $89,000 per year MORE in property taxes than the folks living in the house on Sideroad 10 with the SAME sized lot. The examples above help explain why creating jobs in BWG is the most important thing council must do moving forward. Jobs in our downtown core, jobs in our existing industrial parks and jobs along 400 will provide employment for thousands of people and millions of dollars in revenue that we can use to continue to improve our quality of life while maintaining the agriculture foundation on which this community was built. Ontario’s population will grow by three million people in the next 20 years and an estimated one million new jobs will be created. Our great location with a second interchange and serviced land on Highway 400 will ensure we get our share of these new jobs. On October 27, Re-Elect Mayor Doug White. Vote Yes to Jobs and Economic Prosperity...
Posted on: Thu, 25 Sep 2014 12:37:03 +0000
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