Property Tax
Canadian Apartment Magazine
Potential property tax relief looks uneven
A potential incentive for new purpose-built rental housing in Ontario comes with adverse implications for existing multifamily properties, thanks to the mathematics of property tax allocation.
Canadian Property Management
Toronto strip plazas considered for tax discount
Nearly 30 per cent of Toronto strip plazas are in line for a property tax break if City Council approves the proposed new measure in its upcoming 2024 budget deliberations.
Canadian Property Management
Commercial ratepayers carry heftier tax share
Commercial ratepayers took on a larger share of the property tax burden in eight of 11 large Canadian cities this year, with 2023 commercial tax rates more than tripling residential tax rates in six of those cities.
Canadian Property Management
Ontario keeps clinging to 2016 market values
The recent regulation to postpone Ontario's property reassessment for another year stretches the assessment cycle to double its originally intended time span.
Canadian Property Management
Toronto strives to find more cash
Commercial properties are central to Toronto’s efforts to find more cash as the city government considers how to address massive budget shortfalls projected for 2024 and into the future.
Canadian Property Management
Discount coming on Alberta’s education mill rate
The Alberta budget confirms a $2.5 billion education property tax levy for 2023, which is consistent with last year's requisition but to be spread across an expanded assessment base.
REMI Network
Vancouver approves 10.7% property tax hike
Homeowners now face an average property tax increase of 10.7 per cent after Vancouver City Council approved an operating budget of $1.97 billion for 2023.
Canadian Property Management
B.C. boosts assessment appeal filing fees
Assessment appeal filing fees are jumping from $30 to $300 for British Columbia's commercial and industrial property owners, but remaining static for other property classes.
Canadian Apartment Magazine
Reassessment ups NS multifamily property values
Many multifamily landlords in Halifax have seen a jump in their property values with Nova Scotia’s most recent reassessment based on January 2022 market values.
Canadian Property Management
Commercial ratepayers confront widening tax gap
Commercial property tax rates climbed and commercial-to-residential tax ratios widened this year in the majority of large Canadian cities Altus Group surveys for its annual benchmark report.
Canadian Property Management
Property tax relief looks iffy in New Brunswick
Beginning in 2023, municipalities will have flexibility to pull more revenue from their non-residential tax base, potentially cancelling out a phased 15 per cent reduction in the provincial property tax rate that was introduced this year.
Canadian Property Management
Property tax discount conveyed via honour system
A report to Toronto Council confirms there is no legal or practical mechanism to compel unwilling landlords to pass the benefits of the small business property tax subclass through to tenants with gross leases.
CondoBusiness
Nova Scotia quashes property tax surcharge
The Nova Scotia government has cancelled plans to impose a property tax surcharge on non-resident home and cottage owners less than two weeks after enacting legislation to do so.
Canadian Property Management
Mill rate adjustments for Saskatchewan EPT
Saskatchewan's commercial ratepayers face an increase in the education portion of their property taxes due to a bump-up in the mill rate, but the spread across tax classes has been tightened.
Canadian Apartment Magazine
New Brunswick uncorks delayed property tax cuts
For residential landlords, the first installment of property tax relief will come with a one-year cap to hold rent increases to no more than 3.8 per cent, retroactive to January 1, 2022.
Canadian Property Management
New property valuation board slated for Manitoba
Manitoba is moving to establish a single entity to deal with property tax assessment appeals, compensation for land expropriation and applications for surface rights.
Canadian Property Management
Property tax shift pending from new subclass
About 29,000 Toronto businesses will qualify for a 15 per cent reduction in the property tax rate, necessitating a 0.99 per cent increase for the remainder of commercial ratepayers.
