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Melissa Muskat: Municipal Tax Law Update

Sep 20, 2017

Deadlines

Did you miss filing an assessment appeal in 2017?

You can still file an appeal against your 2016 CVA (used for 2017–2020) in 2018! The deadline date for appeals for the 2018 taxation year is MARCH 31, 2018.

Note:  Properties with a RESIDENTIAL component always require a Request for Reconsideration first, prior to appealing. Always check the DEADLINE DATE on your Property Assessment Notice.

The Deadline Date for filing Tax Rebate Applications (vacancy, charity…) and Tax Adjustment Applications (fire, demolition, change in use…) for the 2017 taxation year is FEBRUARY 28, 2018.

New Multi-Residential Property Tax Class

There will now be lower taxes for newly built apartment buildings across the Province!!

The New Multi-Residential Tax Class was established by a Regulation passed on JULY 5, 2017, and applies to all New Multi-Residential Properties in the Province if the building was converted or built pursuant to a building permit issued after APRIL 20, 2017.

The Tax Rate for the New Multi-Residential Property Tax Class is to be within the range of 1 to 1.1 times the Residential Tax Rate. The tax class applies for 35 years. As this new Regulation was passed in July 2017 and will only apply to properties built or converted pursuant to a building permit issued on or ​after APRIL 20, 2017, it is unlikely you will see properties assessed in this new tax class until 2018.

Billboards

Did you know that the Billboards on your property are assessable and taxable?

On DECEMBER 15, 2015, a Regulation was filed which established rules for assessing billboard signs, retroactive to 2014. Billboards are now assessed using the COST approach to value and are included as part of the Commercial tax class.

Changes To Vacancy Rebate Program

In the previous Municipal Tax Law Update, we advised that municipalities would be given greater flexibility in administering the existing vacant unit rebate program, with a view to limiting or even eliminating the rebate program altogether. Municipalities that have decided to modify their vacant unit rebate programs for the 2017 taxation year were required to notify the Ministry of Finance of their proposed changes by way of council resolution by no later than August 1, 2017.

The following municipalities, in addition to many others, have passed resolutions to phase-out the vacancy rebate program either immediately or within the next few years:

  1. Peel Region: Council passed a resolution to phase-out the vacant unit rebate program as recommended by regional staff. Eligibility changes are being introduced and rebate percentages will be reduced annually, beginning in 2017 until eliminated in 2020.
  2. Toronto: Council passed a resolution to reduce the vacant unit rebate percentage for commercial properties to 15% for 2017 effective July 1, 2017, and to eliminate the rebate for commercial and industrial properties effective July 1, 2018.
  3. Ottawa: Council passed a resolution to phase-out the vacant unit rebate program over two years, with the rebate percentage reduced to 15% in 2017 and eliminated in 2018.

Welcome Ladi Onayemi!

I am pleased to announce the newest addition to our Property Assessment and Taxation Law Group, Ladi Onayemi, who articled with the firm over the last year. He is a great asset to the team and we are excited to have him.

Should you have any questions about any of the matters discussed in this email, please contact me, Melissa Muskat, at either mmuskat@mindengross.com or at 416.369.4313.

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