Property Taxes: 2023 Interim Levy By-Law

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The decision

2022-07-19 · Toronto City Council · adopted

As filed

City Council on July 19, 20, 21 and 22, 2022, adopted the following: 1. City Council authorize that the 2023 interim levy for all property classes be based on 50 percent of the total 2022 taxes billed for each property, adjusted, as necessary, to reflect any additional taxes added to the previous year's taxes as a result of assessment added to the tax roll. 2. City Council authorize that the interim levy apply to assessments added to the tax roll for 2022 that were not on the assessment roll when the by-law was passed.

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3. City Council authorize that: a. the interim bill payment due dates for property tax accounts paid on the eleven (11) installment pre-authorized tax payment plan be: February 15, March 15, April 17, May 15, and June 15, 2023; b. the interim bill payment due date for the two (2) installment pre-authorized tax payment plan be March 1, 2023; and c. the interim bill payment due dates for all other property tax accounts on the regular instalment option or on the six (6) instalment pre-authorized tax payment plan be: March 1, April 3 and May 1, 2023. 4. City Council authorize the introduction of the necessary Bill in City Council on November 23 and 24, 2022, providing for the levy and collection of the 2023 interim taxes prior to the adoption of the estimates for 2023, which by-law, when enacted, will be effective as of January 1, 2023.

On the agenda

As the city filed it

This report recommends the adoption of the 2023 interim levy and requests authority to introduce the necessary by-law at the inaugural meeting of Council on November 16 and 17, 2022. The 2023 interim levy will raise approximately $2.44 billion for City purposes, and will provide for the cash requirements of the City until such time as the 2023 Operating Budget and 2023 final property tax levy are approved by Council.

Staff recommended

The Controller recommends that: 1. City Council authorize that the 2023 interim levy for all property classes be based on 50 per cent of the total 2022 taxes billed for each property, adjusted, as necessary, to reflect any additional taxes added to the previous year's taxes as a result of assessment added to the tax roll. 2. City Council authorize that the interim levy apply to assessments added to the tax roll for 2022 that were not on the assessment roll when the by-law was passed.

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3. City Council authorize that: a. the interim bill payment due dates for property tax accounts paid on the eleven (11) installment pre-authorized tax payment plan be: February 15, March 15, April 17, May 15, and June 15, 2023; b. the interim bill payment due date for the two (2) installment pre-authorized tax payment plan be March 1, 2023; and c. the interim bill payment due dates for all other property tax accounts on the regular instalment option or on the six (6) instalment pre-authorized tax payment plan be: March 1, April 3, and May 1, 2023. 4. City Council grant authority to introduce the necessary bill in Council on November 16 and 17, 2022, providing for the levy and collection of the 2023 interim taxes prior to the adoption of the estimates for 2023, which by-law, when enacted, will be effective as of January 1, 2023.

Considered

2022-07-12 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council authorize that the 2023 interim levy for all property classes be based on 50 per cent of the total 2022 taxes billed for each property, adjusted, as necessary, to reflect any additional taxes added to the previous year's taxes as a result of assessment added to the tax roll. 2. City Council authorize that the interim levy apply to assessments added to the tax roll for 2022 that were not on the assessment roll when the by-law was passed.
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3. City Council authorize that: a. the interim bill payment due dates for property tax accounts paid on the eleven (11) installment pre-authorized tax payment plan be: February 15, March 15, April 17, May 15, and June 15, 2023; b. the interim bill payment due date for the two (2) installment pre-authorized tax payment plan be March 1, 2023; and c. the interim bill payment due dates for all other property tax accounts on the regular instalment option or on the six (6) instalment pre-authorized tax payment plan be: March 1, April 3, and May 1, 2023. 4. City Council grant authority to introduce the necessary bill in Council on November 16 and 17, 2022, providing for the levy and collection of the 2023 interim taxes prior to the adoption of the estimates for 2023, which by-law, when enacted, will be effective as of January 1, 2023.
2022-07-19 · Toronto City Council · adopted

On the record

The item as the City filed it

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