Item - 2020.BU15.1
Tracking Status
- This item was considered by Budget Committee on January 28, 2020. The Budget Committee postponed consideration of this item. Consult the text of the decision for further information on the deferral.
BU15.1 - 2020 Property Tax Rates and Related Matters
- Decision Type:
- ACTION
- Status:
- Deferred
- Wards:
- All
Committee Decision
The Budget Committee deferred the consideration of item BU15.1 to the February 4, 2020 meeting of the Budget Committee.
Origin
Summary
The Budget Committee at its meeting of January 15, 16 and 17, 2020 deferred consideration of Item 14.1 - 2020 Property Tax Rates and Related Matters to the January 28, 2020 meeting of the Budget Committee.
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 |
The report from the Chief Financial Officer and Treasurer on 2020 Property Tax Rates and Related Matters was distributed to all Members of Council on January 10, 2020 as part of the agenda for the Budget Committee meeting of January 15, 16 and 17, 2020.
Background Information
https://www.toronto.ca/legdocs/mmis/2020/bu/bgrd/backgroundfile-144593.pdf
Communications
(January 24, 2020) E-mail from Christopher White (BU.Supp.BU15.1.2)
(January 28, 2020) Letter from Mike Major, President, and Heather Nicolson-Morrison, Executive Director. COTAPSA (BU.Supp.BU15.1.3)
https://www.toronto.ca/legdocs/mmis/2020/bu/comm/communicationfile-100790.pdf
(January 24, 2020) E-mail from Robert Vogel (BU.Supp.BU15.1.4)
(January 27, 2020) E-mail from Jasmine Pickel, Interim Ontario Director, Canadian Taxpayers Federation (BU.Supp.BU15.1.5)
(January 27, 2020) Multiple Communications from 112 individuals (BU.Supp.BU15.1.6)
https://www.toronto.ca/legdocs/mmis/2020/bu/comm/communicationfile-100793.pdf
(January 24, 2020) E-mail from Jeff Mount (BU.New.BU15.1.7)
Motions
That consideration of the item be deferred until the February 4, 2020 meeting of the Budget Committee