The filed record
Protecting small businesses from condominium speculation Assessment Tax - by Councillor Mike Colle, seconded by Councillor John Filion
The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.
The decision
2019-10-29 · Toronto City Council · adopted
As filed
City Council on October 29 and 30, 2019, adopted the following: 1. City Council request the Chief Financial Officer and Treasurer to report to the Executive Committee, as part of the ongoing review of additional property tax and legislative change, on options to support businesses on options to mitigate the adverse impact of "highest and best use" valuation when using direct sales comparison approach by Municipal Property Assessment Corporation to determine Current Value Assessment for commercial properties.
Show the rest of As filed, 233 more characters as filed
2. City Council request the Chief Financial Officer and Treasurer to request a meeting with Provincial Ministry of Finance officials to seek tax relief from the impact of "highest and best use" valuation of small business properties.
The vote
Adopt Item · Carried, 24-0
The whole record, all 26 members
- Ana BailãoFor
- Anthony PerruzzaFor
- Brad BradfordFor
- Cynthia LaiFor
- Denzil Minnan-WongFor
- Frances NunziataFor
- Gary CrawfordFor
- Gord PerksFor
- James PasternakFor
- Jaye RobinsonAbsent
- Jennifer McKelvieFor
- Jim KarygiannisFor
- Joe CressyFor
- John FilionFor
- John ToryAbsent
- Josh MatlowFor
- Kristyn Wong-TamFor
- Mark GrimesFor
- Michael FordFor
- Michael ThompsonFor
- Mike ColleFor
- Mike LaytonFor
- Paul AinslieFor
- Paula FletcherFor
- Shelley CarrollFor
- Stephen HolydayFor
Every name opens that member’s record.
On the agenda
As the city filed it
A growing number of small business retailers are facing ever increasing property taxes due to extraordinary increases in assessment valuation by the Provincial Government's Municipal Property Assessment Corporation. With the growing number of speculative pressures caused by the building of high-rise condominiums and rental high-rise on our main streets in the Yonge Street corridor and other main streets in the City core, it is important to call for the recommendations as noted above.
Staff recommended
Councillor Mike Colle, seconded by Councillor John Filion, recommends that: 1. City Council request the Chief Financial Officer and Treasurer to report to the Executive Committee, as part of the ongoing review of additional property tax and legislative change, on options to support businesses on options to mitigate the adverse impact of "highest and best use" valuation when using direct sales comparison approach by Municipal Property Assessment Corporation to determine Current Value Assessment for commercial properties.
Show the rest of Staff recommended, 233 more characters as filed
2. City Council request the Chief Financial Officer and Treasurer to request a meeting with Provincial Ministry of Finance officials to seek tax relief from the impact of "highest and best use" valuation of small business properties.
On the record
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