Item - 2020.BU14.1
Tracking Status
- This item was considered by Budget Committee on January 15, 2020. The Budget Committee postponed consideration of this item. Consult the text of the decision for further information on the deferral.
BU14.1 - 2020 Property Tax Rates and Related Matters
- Decision Type:
- ACTION
- Status:
- Deferred
- Wards:
- All
Committee Decision
The Budget Committee deferred the consideration of item BU14.1 to the January 28, 2020 meeting of the Budget Committee.
Origin
Summary
This report recommends the 2020 municipal tax ratios and tax rates arising from the concurrent adoption of the City of Toronto's 2020 tax supported Operating and Capital Budgets.
The 2020 tax rate increases arising from the 2020 tax supported Operating and Capital Budgets and the tax policy decisions recommended by the Budget Committee are as follows:
Table 1 - 2020 Recommended Property Tax Rate Increases
Property Class |
2020 Tax Rate Increase for Operating Budget |
2020 City Building Fund Tax Rate Increase |
2020 Total Tax Rate Increase |
Residential, New Multi-Residential, Farmland, Managed Forest, and Pipelines |
2.00 percent |
1.50 percent |
3.50 percent |
Multi- Residential |
0.00 percent |
0.00 percent |
0.00 percent |
Commercial |
1.00 percent |
0.75 percent |
1.75 percent |
Industrial |
0.66 percent |
0.50 percent |
1.17 percent |
Total Tax Rate Increase |
1.43 percent |
1.07 percent |
2.50 percent |
Background Information
https://www.toronto.ca/legdocs/mmis/2020/bu/bgrd/backgroundfile-141487.pdf
Motions
That consideration of the item be deferred until the January 28, 2020 meeting of the Budget Committee