Property Tax

Commercial ratepayers

Canadian Property Management

Few favours for commercial ratepayers in 2018

Tax ratios for 11 of Canada's largest cities demonstrate that commercial ratepayers consistently carry a disproportionate share of the municipal property tax burden.
Smoothing of tax inequities

Canadian Property Management

REALPAC calls for smoothing of tax inequities

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.
property tax grant

Canadian Property Management

Developers decry pullback on property tax grant

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.
property assessment

Canadian Property Management

Ontario revises property assessment schedule

The launch of a new four-year cycle in 2017 spurred a wave of assessment appeals as property owners reacted to often dramatic increases in value over the previous assessment.
vacant dwelling tax

CondoBusiness

Vacant dwelling tax deemed costly to collect

Much of the data that might indicate if a unit is vacant comes from fragmented sources, is not currently collected or inaccessible due to privacy issues, and is frequently inconclusive.
residential development land

CondoBusiness

B.C. residential development land takes tax hit

The British Columbia government expects to collect about $520 million in new annual revenue through additional residential property taxes and property transfer taxes.
divergent property tax regimes

Canadian Property Management

Cities exhibit divergent property tax regimes

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.
vacant unit rebate

Canadian Property Management

Cities poised to terminate vacant unit rebate

Past, present and would-be recipients bristle at suggestions that the rebate is a subsidy or a disincentive to improve the marketability of their properties.
CVA-related tax increases

Canadian Property Management

CVA-related tax increases still levied unevenly

Last year, 4,955 of Toronto's commercial properties were still under a property tax cap, which 7,107 other commercial properties funded via clawbacks.
optional property tax class

Canadian Apartment Magazine

Optional property tax class set to be mandatory

Though expressed somewhat vaguely, the Ontario government's newly announced housing plan forewarns that all municipalities will be required to adopt the new multi-residential property class and align it with the tax rate applied to residential properties.
housing market

Canadian Apartment Magazine

Furor over MPAC multi-res cap rates predicted

Assessment notices for nearly 16,000 Ontario multi-residential properties will be mailed out next week, delivering valuations determined for the first time with the newly adopted direct capitalization methodology.
land transfer tax

CondoBusiness

Ontario’s new four-year assessment cycle begins

Ontario's Municipal Property Assessment Corporation (MPAC) reports province-wide residential property values have increased by an average of 4.5 per since January 2012.