2019 Education Property Tax Levy and Clawback Rate By-law

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The decision

2019-04-16 · Toronto City Council · amended

As filed

City Council on April 16 and 17, 2019, adopted the following: 1. City Council adopt the 2019 tax rates for school purposes, as shown in column II, which will raise an education tax levy on rateable properties for 2019 of $2,242,074,103, in accordance with O.Reg. 400/98 as amended, prescribing such rates for the City of Toronto: Column I Column II Property Class 2019 Tax Rates for Education Levy Residential 0.161000% Multi-Residential 0.161000% New Multi-Residential 0.161000% Commercial 1.030000% Commercial (New Construction) 1.030000% Commercial Residual 1.030000% Commercial Residual l (New Construction) 1.030000% Industrial 1.110878% Industrial (New Construction) 1.030000% Pipelines 1.290000% Farmlands 0.040250% Managed Forests 0.040250% 2.

Show the rest of As filed, 597 more characters as filed

City Council adopt reductions in tax decreases for the 2019 taxation year on properties in the commercial, industrial and multi-residential property classes by the percentage of the tax decrease set out in Column II in order to recover the revenues foregone as a result of capping: Column I Column II Column III (Property Class) (Clawback Percentage) (Allowable Decrease) Commercial 65.068190% 34.931810% Industrial 50.130410% 49.869590% Multi-residential 39.891946% 60.108054% 3. City Council authorize the introduction of the necessary Bills in Council to give effect to City Council's decision.

On the agenda

As the city filed it

This is to advise that the report "2019 Education Property Tax Levy and Clawback Rate By-law" will be on the agenda of the Executive Committee meeting on April 9, 2019. The report is predicated on the Ministry of Finance making the Regulation, prescribing the tax rates for school purposes for the 2019 taxation year.

Considered

2019-04-09 · Executive Committee · forwarded without recommendation
Decision as filed
The Executive Committee forwards the item to City Council without recommendations.
Clerk’s note
The Executive Committee requested the Chief Financial Officer and Treasurer to report directly to City Council at its meeting on April 16 and 17, 2019 on this matter.
2019-04-16 · Toronto City Council · amended

On the record

The item as the City filed it