2021 Education Property Tax Levy and Clawback Rate By-Law

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The decision

2021-05-05 · Toronto City Council · adopted

As filed

City Council on May 5 and 6, 2021, adopted the following: 1. City Council adopt the 2021 tax rates for school purposes, as shown in column III, which will generate an education tax levy on rateable properties for 2021 of $2,136,950,788 in accordance with Ontario Regulation 400/98 as amended, prescribing such rates for the City of Toronto of which $4,646,076 is to be retained by the City pursuant to Ontario Regulation

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121/07: Column I Column II Column III Property Class 2021 Tax Rates for Education Levy before Graduated Tax Rates 2021 Tax Rates for Education Levy after Graduated Tax Rates Residential 0.153000 percent 0.153000 percent Multi-Residential 0.153000 percent 0.153000 percent New Multi-Residential 0.153000 percent 0.153000 percent Commercial General 0.880000 percent 0.880000 percent Commercial Residual Band 1 0.880000 percent 0.840110 percent Commercial Residual Band 2 0.880000 percent 0.902476 percent Commercial Shared Payment-in-Lieu 0.980000 percent 0.980000 percent Commercial Shared Payment-in-Lieu Band 1 0.980000 percent 0.918104 percent Commercial Shared Payment-in-Lieu Band 2 0.980000 percent 0.986259 percent Industrial 0.880000 percent 0.880000 percent Industrial Shared Payment-in -Lieu 1.0672200 percent 1.0672200 percent Pipelines 0.880000 percent 0.880000 percent Farmlands 0.038250 percent 0.038250 percent Managed Forests 0.038250 percent 0.038250 percent 2. City Council adopt reductions in tax decreases for the 2021 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, and to allow the decrease percentages set out in Column III: Column I Column II Column III (Property Class) (Clawback Percentage) (Allowable Decrease) Commercial 60.440207 percent 39.559793 percent Industrial 77.606089 percent 22.393911 percent Multi-residential 55.713517 percent 44.286483 percent 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 report recommends adoption of the 2021 education tax rates and education property tax levy for school purposes, as required by legislation. The City of Toronto levies and collects education taxes on behalf of the Province of Ontario, based on the education tax rates set out in Ontario Regulation 400/98. This report also recommends the 2021 percentage of the tax decreases (the 'clawback' rates) required to fund the

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capping limit on properties in the commercial, industrial and multi-residential property classes, as provided for by legislation.

Staff recommended

The Chief Financial Officer and Treasurer recommends that: 1. City Council adopt the 2021 tax rates for school purposes, as shown in column III, which will generate an education tax levy on rateable properties for 2021 of $2,136,950,788 in accordance with Ontario Regulation 400/98 as amended, prescribing such rates for the City of Toronto of which $4,646,076 is to be retained by the City pursuant to Ontario Regulation

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121/07: Column I Column II Column III Property Class 2021 Tax Rates for Education Levy before Graduated Tax Rates 2021 Tax Rates for Education Levy after Graduated Tax Rates Residential 0.153000% 0.153000% Multi-Residential 0.153000% 0.153000% New Multi-Residential 0.153000% 0.153000% Commercial General 0.880000% 0.880000% Commercial Residual Band 1 0.880000% 0.840110% Commercial Residual Band 2 0.880000% 0.902476% Commercial Shared Payment-in-Lieu 0.980000% 0.980000% Commercial Shared Payment-in-Lieu Band 1 0.980000% 0.918104% Commercial Shared Payment-in-Lieu Band 2 0.980000% 0.986259% Industrial 0.880000% 0.880000% Industrial Shared Payment-in -Lieu 1.0672200% 1.0672200% Pipelines 0.880000% 0.880000% Farmlands 0.038250% 0.038250% Managed Forests 0.038250% 0.038250% 2. City Council adopt reductions in tax decreases for the 2021 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, and to allow the decrease percentages set out in Column III: Column I Column II Column III (Property Class) (Clawback Percentage) (Allowable Decrease) Commercial 60.440207% 39.559793% Industrial 77.606089% 22.393911% Multi-residential 55.713517% 44.286483% 3. City Council authorize the introduction of the necessary bills in Council to give effect to Council's decision.

Considered

2021-04-29 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council adopt the 2021 tax rates for school purposes, as shown in column III, which will generate an education tax levy on rateable properties for 2021 of $2,136,950,788 in accordance with Ontario Regulation 400/98 as amended, prescribing such rates for the City of Toronto of which $4,646,076 is to be retained by the City pursuant to Ontario Regulation 121/07: Column I
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Column II Column III Property Class 2021 Tax Rates for Education Levy before Graduated Tax Rates 2021 Tax Rates for Education Levy after Graduated Tax Rates Residential 0.153000 percent 0.153000 percent Multi-Residential 0.153000 percent 0.153000 percent New Multi-Residential 0.153000 percent 0.153000 percent Commercial General 0.880000 percent 0.880000 percent Commercial Residual Band 1 0.880000 percent 0.840110 percent Commercial Residual Band 2 0.880000 percent 0.902476 percent Commercial Shared Payment-in-Lieu 0.980000 percent 0.980000 percent Commercial Shared Payment-in-Lieu Band 1 0.980000 percent 0.918104 percent Commercial Shared Payment-in-Lieu Band 2 0.980000 percent 0.986259 percent Industrial 0.880000 percent 0.880000 percent Industrial Shared Payment-in -Lieu 1.0672200 percent 1.0672200 percent Pipelines 0.880000 percent 0.880000 percent Farmlands 0.038250 percent 0.038250 percent Managed Forests 0.038250 percent 0.038250 percent 2. City Council adopt reductions in tax decreases for the 2021 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, and to allow the decrease percentages set out in Column III: Column I Column II Column III (Property Class) (Clawback Percentage) (Allowable Decrease) Commercial 60.440207 percent 39.559793 percent Industrial 77.606089 percent 22.393911 percent Multi-residential 55.713517 percent 44.286483 percent 3. City Council authorize the introduction of the necessary Bills in Council to give effect to City Council's decision.
2021-05-05 · Toronto City Council · adopted

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