2011 Municipal Study - City of Brantford

Municipal Study 2011Executive Summary—City of BrantfordSocio-Economic FactorsThis section of the report includes information on population changes land area, density, householdincomes, age demographics, assessment information, age and condition of private dwellings andbuilding permit activity to assist in understanding some of the basic facts about each municipality andthe overall growth patterns. The executive summary includes excerpts of the socio-economic factors.The results have been presented to show a comparison to the overall survey average of 84 Ontariomunicipalities as well as a comparison to the average within the geographic location.BrantfordSurveyAverageSouthwestAveragePopulation Density per sq. km. 1,343 626 5842006-2010 Population Increase 6.6% 7.5% 5.7%2010 Building Construction Value per Capita $ 1,740 $ 2,403 $ 2,9862011 Est. Average Household Income $ 70,911 $ 87,280 $ 82,6932011 Unweighted Taxable Assessment Per Capita $ 80,742 $ 121,960 $ 115,7472010 - 2011 Change in Unweighted Assessment 6.6% 6.8% 6.1%% of Residential Assessment 75.6% 79.5% 75.8%Population density indicates the number of residents living in an area. Density readings can lendinsight into the age of a city, growth patterns, zoning practices, new development opportunities andthe level of multi-family unit housing. Population growth will affect the revenue base through theireffect on property taxes. As the population increases so does the potential for an increase in therevenue base. As population increases, the expenditures of the municipality may also increase.Another indicator of relative growth is to compare building construction on a per capita basis.Household income is one measure of a community’s ability to pay. Credit rating firms use householdincome as an important measure of a municipality’s ability to repay debt. Assessment statistics havebeen compared to provide an indication of the “richness” of the assessment base in each municipality.Assessment is important because municipalities depend largely on the property tax base for asubstantial portion of their revenue. Assessment growth also provides an indication of how the baseupon which taxes are levied is changing over time. The proportionate contributions for residential,commercial and industrial tax revenue sources is important to understand.Executive Summary21