By-law No. 26-065 - To Establish Tax Ratios and Tax Reductions for the Year 2026 — full text

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Authority: Item 8.11, General Issues Committee Minutes 26-005, Report FCS26024 CM: April 1, 2026 Ward: City Wide Written approval for this by-law was given by Mayoral Decision MDE-2024 07 Dated April 1, 2026 Bill No. 065 CITY OF HAMILTON BY-LAW NO. 26-065 To Establish Tax Ratios and Tax Reductions for the Year 2026 WHEREAS it is necessary for the Council of the City of Hamilton, pursuant to Section 308 of the Municipal Act, 2001, S.O. 2001, c. 25, to establish tax ratios for the 2026 taxation year for the City of Hamilton; and WHEREAS the tax ratios determine the relative amount of taxation to be borne by each property class; and WHEREAS it is necessary for the Council of the City of Hamilton, pursuant to Section 308 of the Municipal Act, 2001, S.O. 2001, c. 25, to establish tax ratios for the 2026 taxation year for the City of Hamilton; and WHEREAS the tax ratios determine the relative amount of taxation to be borne by each property class; and WHEREAS the property classes have been prescribed by the Assessment Act, R.S.O. 1990, c. A.31 and by the Minister of Finance under Ontario Regulation 282/98; and WHEREAS tax transition ratios have been prescribed by the Minister of Finance under Ontario Regulation 385/98; and WHEREAS it is necessary for the Council of the City of Hamilton, pursuant to section 313 of the Municipal Act, 2001, S.O. 2001, c. 25, to establish tax rate reductions for prescribed property subclasses for the 2026 taxation year; and Page 2 of 3 WHEREAS the tax rate reductions applicable to each property subclass reduce the property tax amounts that would otherwise be levied for municipal purposes; and WHEREAS the property subclasses for which tax rate reductions are to be established are in accordance with subsection 8(1) of the Assessment Act, R.S.O. 1990, c. A.31. NOW THEREFORE the Council of the City of Hamilton enacts as follows: 1. This By-law applies to all rateable property within the City of Hamilton. 2. For the 2026 taxation year, the tax ratio for each property class is: RTC Description Tax Ratio Residential 1.0000 Multi-Residential 2.0000 Multi-Residential: Farmland Awaiting Development 0.7500 New Multi-Residential 1.0000 Commercial 1.9800 Commercial: Farmland Awaiting Development 0.7500 Office Building 1.9800 Shopping Centre 1.9800 Parking Lot 1.9800 Industrial 2.8570 Large Industrial 3.3500 Pipeline 1.7947 Landfill 2.9696 Farm 0.1767 Managed Forests 0.2500 Aggregate Extraction 2.4465 Page 3 of 3 3. For the 2026 taxation year, the tax rate reduction for: (a) the first class of farmland awaiting development in the residential, multi-residential, commercial or industrial property classes is 25%; (b) the second class of farmland awaiting development in the residential, multi-residential, commercial or industrial property classes is 0%; (c) the excess land subclasses in the commercial property class is 0%; (d) the excess land subclasses in the industrial property class is 0%; (e) the vacant land subclass in the industrial property class is 0%; (f) the excess land subclass in the large industrial property class is 0%; 4. Lands in a property tax class or subclass referred to in this By-law shall include all lands in said property tax class or subclass as provided for in Ontario Regulation 282/98. 5. This By-law is deemed to come into force as of January 1, 2026. PASSED this 1st day of April, 2026. A. Horwath M. Trennum Mayor City Clerk