It's estimated that equitable apportionment could push residential rates 2.2 per cent higher than the proposed 1.8 per cent increase for fiscal year 2020, while commercial rates would drop and industrial rates remain the same.
The action is included in a list of initiatives associated with Bill 66, the proposed Restoring Ontario's Competitiveness Act, even though none of the bill's dozens of legislative amendments pertain to the Assessment Act.
A surging industrial sector helped to counterbalance slipping retail values and push up 2018 investment returns on Canadian commercial real estate.
Tax ratios for 11 of Canada's largest cities demonstrate that commercial ratepayers consistently carry a disproportionate share of the municipal property tax burden.
An illogical quirk in the apportionment of business education tax continues to undermine competitiveness for some of Ontario's major cities, advocates for the commercial real estate sector maintain.
Rules for the program are set to change, making the timing less than ideal for development proponents still awaiting a decision based on the original criteria in place when they submitted their applications.
Senior ranking valuation specialists agreed that new uncertainties around fraying trade agreements, political instability and climate volatility have broadened the scope of their worries well beyond rising interest rates.
High-rise development is expected to be the hardest hit real estate activity, but fallout across a wider range of consumer goods has potential negative implications for commercial warehouse and distribution facilities.
The new rules capture the demographic of investors who own small low-rise residential or mixed-use commercial-residential buildings as a sideline to their main business ventures.
Commercial real estate operations within Canada could experience fallout simply due to the interconnectedness of the two economies, while companies with holdings on both sides of the border may be pushed to reassess some of their financing strategies and structures.
The minimum wage hike may sting more in condo communities than others as they face new costs associated with recent changes to Ontario’s condo laws.
The GTA's rising population and provincial investments will fuel growth at commercial hubs near future transit-oriented developments.
This annual look at the apportionment of the tax burden gives a more complete picture of the pressures on the commercial and multi-residential sectors than simply referencing property tax rates.
REITs and PERE managers face a unique challenge in developing succession planning strategies that identify the next generation of leaders.
It’s important for board members to review the draft financial statements and know what questions to ask their condo auditor before giving their approval.
Making tough financial decisions will never be easy, but making the right tough decisions gets easier if condo directors follow these five principles.
HST has been flying under the radar and could become a potentially significant liability for condo corporations.