Part 3 – Region of Peel

Taxable Assessment Base

There was sustained growth in the total taxable assessment base in the Region of Peel in 2016 (2017 tax year). For the year, Peel’s total taxable assessment base grew by 1.31 per cent(see figure 16).Although remaining positive, this represented a comparable, though slightly slower rate of growth when compared with the 1.35 per cent increase registered in 2015.

A broad slowing in Peel’s annual taxable assessment growth started in 2007 when a 2.74 per cent increase was recorded. This followed a six year period in which annual growth varied between a high of 4.07 per cent and a low of 3.43 per cent. The 1.31 per cent observed in 2016 extended the period of slowdown, and was the slowest rate of growth observed since 2007.  The slightly slower growth observed in 2016 was characteristic of changes across all three Peel municipalities, as well as in both the residential and non-residential assessment base(see figure 17). Growth was led by the City of Brampton where total taxable assessment base increased by 2.58 per cent down from 2.68 per cent growth registered in 2015. Both residential (2.78 per cent) and non-residential (1.66 per cent) taxable assessment base contributed to the growth observed in 2016.

Total assessment base in the Town of Caledon grew by 2.14 per cent, supported solely by a 2.54 per cent increase residential assessment base. Total non-residential assessment base fell by 0.41 per cent and contributed to the slowing in the growth of the total taxable assessment base from 2.23 per cent in 2015 to the 2.04 per cent in 2016.

The City of Mississauga is Peel’s most mature city, and almost fully built.  As a result, growth in total taxable assessment was lower than in the other two Peel’s municipalities, registering 0.48 per cent in 2016. This also represented a moderation in growth when compared with a 0.32 per cent recorded in 2016. Growth in 2016 was supported by higher residential (0.45 per cent) and non-residential (0.55 per cent) taxable assessment base

Total residential assessment base increased by 1.44 per cent, which was slightly lower than the 1.46 per cent growth registered in 2015. Similarly, the 0.81 per cent growth in total non-residential assessment base in 2016 was lower than the 0.92 per cent registered in 2015. The growth registered in both sub-sectors in 2016 represented the third consecutive year of slower growth in the taxable assessment base, contributing to a similar trend at the broader Peel level.

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