Property assessments are about to increase dramatically across the City of Hamilton.
General Manager of Finance Mike Zegarac says notices will be in the mail starting July.4th and will serve as the basis for calculating property taxes between 2017 and 2020.
In Hamilton, he adds that the average increase will be 27%, to be phased in over four years.
Properties that come in above the average increase will face a higher tax burden while taxes will be reduced for those who come in below the average.
Hamilton’s 27% spike also compares to a province-wide increase of 17%, a reflection of the city’s hot housing market.