Taxes
Property Taxes
As you scout locations for your expanding or budding business, municipal property taxes may figure heavily into your decision. They are also a key factor in stimulation of economic development.
A comparison reveals Thorold has relatively low industrial tax rates compared to other municipalities in Ontario (BMA Municipal Study 2009).
Tax rates are based on MPAC's (Municipal Property Assessment Corporation) assessment. Multiply your property assessment by the total rate for your total annual property tax (Example: A $200,000 home x an urban tax rate of 0.01577 = $3,154 due in tax).
Check out property tax rates for the city of Thorold and contact the City by phone at 905-227-6613, ext. 235 or by email at taxes@thorold.com with inquiries regarding tax rates.
| Property Class | RTC/RTQ Code | Tax Ratio | City Tax Rates | NHS Health Care Complex Rates | Region Tax Rates | |
| Residential/Farm | RT | 1.0000 | 0.473415% | 0.017758% | 0.668607% | |
| Multi-Residential | MT | 2.0600 | 0.975235% | 0.036581% | 1.377327% | |
| Multi Residential New | 1.0000 | 0.473415% | 0.017758% | 0.668607% | ||
| Commercial Occupied | CT; DT; ST; GT | 1.7586 | 0.832548% | 0.031229% | 1.175808% | |
| Vacant Units, Excess Land | CU; DU; SU; GU | 1.2310 | 0.582774% | 0.021860% | 0.823068% | |
| Vacant Land | CX | 1.2310 | 0.582774% | 0.021860% | 0.823068% | |
| Residual Industrial | IT | 2.6300 | 1.245081% | 0.046704% | 1.758433% | |
| Vacant Units, Excess Land | IU | 1.7095 | 0.809303% | 0.030357% | 1.142983% | |
| Vacant Land | IX | 1.7095 | 0.809303% | 0.030357% | 1.142983% | |
| Large Industrial | LT | 2.6300 | 1.245081% | 0.046704% | 1.758433% | |
| Vacant Units | LU | 1.7095 | 0.809303% | 0.030357% | 1.142983% | |
| Pipelines | PT | 1.6711 | 0.791124% | 0.029675% | 1.117307% | |
| Farmlands | FT | 0.2500 | 0.118354% | 0.004440% | 0.167150% | |
| Farmland Awaiting Development | I1 | 0.7500 | 0.355061% | 0.013319% | 0.501455% | |
| Farmland Awaiting Development | I2 | 1.0000 | 0.473415% | 0.017758% | 0.668607% | |
| Managed Forests | TT | 0.2500 | 0.118354% | 0.004440% | 0.167150% | |
Property Taxes continued
| Property Class | Region Waste Mgmt Rates | Education Tax Rates | USA Tax Rates | Total 2009 Urban Tax Rates | |
| Residential/Farm | 0.076995% | 0.252000% | 0.088066% | 1.576841% | |
| Multi-Residential | 0.158608% | 0.252000% | 0.181416% | 2.981167% | |
| Multi Residential New | 0.076995% | 0.252000% | 0.088066% | 1.576841% | |
| Commercial Occupied | 0.135401% | 1.520000% | 0.154873% | 3.849859% | |
| Vacant Units, Excess Land | 0.094782% | 1.064000% | 0.108411% | 2.694895% | |
| Vacant Land | 0.094782% | 1.064000% | 0.108411% | 2.694895% | |
| Residual Industrial | 0.202495% | 2.488989% | 0.231614% | 5.973316% | |
| Vacant Units, Excess Land | 0.131622% | 1.617843% | 0.150549% | 3.882657% | |
| Vacant Land | 0.131622% | 1.617843% | 0.150549% | 3.882657% | |
| Large Industrial | 0.202495% | 2.488989% | 0.231614% | 5.973316% | |
| Vacant Units | 0.131622% | 1.617843% | 0.150549% | 3.882657% | |
| Pipelines | 0.128666% | 1.490568% | 0.147167% | 3.704507% | |
| Farmlands | 0.019249% | 0.063000% | 0.022017% | 0.394210% | |
| Farmland Awaiting Development | 0.057746% | 0.189000% | 0.066050% | 1.182631% | |
| Farmland Awaiting Development | 0.076995% | 0.252000% | 0.088066% | 1.576841% | |
| Managed Forests | 0.019249% | 0.063000% | 0.022017% | 0.394210% | |
Source: City of Thorold, 2009
Corporate Taxes
| Ontario Corporate Income Tax Rates, 2009 | |||
| Type of Income | Federal | Ontario | Combined |
| General | 19.0% | 14.0% | 33.0% |
| Manufacturing and processing | 19.0% | 12.0% | 31.0% |
| Small business | 11.0% | 5.5% | 16.5% |
Source: Deloitte, 2009
