Commercial and industrial property taxes: GTHA RATES DECREASE

NRU
Aug. 20, 2014

Commercial property taxes decreased in all 27 GTHA municipalities in 2014, when compared to 2013 rates. Industrial property tax rates also decreased across the GTHA, with the exception of Clarington, which had no rate change.

Most municipalities had a minimal decrease, with, on average, commercial rates dropping about 0.05 per cent and industrial about 0.07 per cent. Toronto’s tax rates had the biggest decline, with commercial dropping by 0.13 per cent and industrial by 0.11 per cent. The smallest decrease was in Clarington, where the industrial rate was the same as in 2013, and the commercial rate dropped by less than 0.03 per cent.

Hamilton continues to have the highest commercial and industrial tax rates, followed by Durham Region municipalities. Conversely, York Region municipalities have the lowest commercial and industrial tax rates in the GTHA with the lowest overall business rates in Markham. While Toronto has the fourth highest commercial rates, its industrial rates are at the median.

For the municipal residential and multi-residential tax rates, see the August 13 GTA edition of NRU.