NEWS...
Your Property Tax Bill
Mississauga City Councillors have recently completed the budget process for 2012 and since that time, seemingly conflicting messages published by the media and the city have resulted in confusion.
The following explanation seeks to clarify how the property tax bill works.
Your property tax bill consists of three unequal parts: Region (47%), City (29%), and Education (24%). Late in 2011, the Region of Peel increased its budget for 2012 by 1.6%. Around the same time, the province of Ontario approved a 0% increase on the education portion. And in February 2012, City Councillors approved a 7.4% increase on the City of Mississauga portion. When all three parts are put together to make up your property tax bill, the resulting overall increase is 2.8%. See the table below.
|
% increase |
x % of total bill |
= % impact on tot. bill |
Region of Peel |
1.6 |
47 |
0.7 |
City of Mississauga |
7.4 |
29 |
2.1 |
Education |
0 |
24 |
0 |
Total |
|
100 |
2.8 |
What’s important to most residents is what impact this has on the overall tax bill: “How much more will I have to pay this year?” The answer is 2.8% more than 2011.
Actual dollar amounts will depend on the assessed value of your property. If your home is valued at $430,000 (the average in the city), you will see an increase of $131.76 on your property tax bill. Another way to calculate the increase is $26.46 per $100,000 of assessment.
In summary, when the media reports a 7.4% tax hike, they are referring to only the city portion (or 29% of your total property tax bill). When factoring in all three parts, the increase is 2.8% and that reflects the true increase in terms of what residents will actually pay.
Mississauga's taxes are competitive
Total Tax Levy Per Capita (2011)
| Municipality | Per Capita |
| Oakville | $1,429 |
| Ottawa | $1,388 |
| Toronto | $1,316 |
| Hamilton | $1,316 |
| London | $1,222 |
| Burlington | $1,209 |
| Brampton | $1,098 |
| Mississauga | $1,080 |
| Markham | $1,079 |
| Average | $1,235 |