Businesses in Oakville currently pay between 2.4 and 3.6 times the tax rate of residential property owners even though they use less than half the municipal services used by a typical resident and pay for services they don’t even receive. In fact, these businesses subsidize programs and services for residential tax payers.
A low ratio of employers to residents also has serious environmental consequences. Sixty percent of Oakville’s employed residents have to leave the community every day to get to work. Encouraging businesses to locate and stay in Oakville will help reduce the impact commuting has on the world around us.
A livable community must be financially sustainable. Development charges in the short term, along with property taxes gained from businesses over the long term will provide revenues to build needed infrastructure.
Retaining and attracting businesses to Oakville will help to offset increasing costs for delivering municipal programs and services—and will ultimately help reduce the rate of increase in residential property taxes.
*Oakville’s staff of economic development professionals are focused on industrial and commercial development including: