Taxable Assessment Base
- Peel’s total taxable assessment base increased by 1.62 per cent in 2018 (for 2019 tax year), which was in line with the ten-year average growth of 1.63 per cent.
- In 2018, residential taxable assessment led growth suggesting a continued shift in the tax share towards the residential sector.
In 2018 (for 2019 tax year), Peel’s total taxable assessment base grew by 1.62 per cent.
Since 2007, the annual growth has varied from a high of 2.09 per cent in 2009 to a low of 1.31 per cent in 2017, to average 1.63 per cent over the ten years.
Changes by Sector
Both the residential (1.81 per cent) and non-residential (0.87 per cent) taxable assessment base continued to grow.
Since 2012, the residential taxable assessment base has led growth in Peel.
Under the current taxation methodology, the stronger growth in residential taxable assessment suggests a continued shift in tax share towards the residential sector.
Changes by Municipality
Viewed by municipality, growth was supported by a higher taxable assessment base in all three local municipalities as follows:
- City of Brampton: up 2.90 per cent;
- Town of Caledon: up 1.98 per cent; and
- City of Mississauga: up 0.81 per cent.
The sustained increase in Peel’s total taxable assessment base means that Peel’s tax base is increasing and providing a larger base over which tax increases can be spread.