Commercial property taxes still high compared to residential

Commercial property taxes still high compared to residential

Commercial property taxes still high compared to residential While homeowners may complain about the amount they have to pay for property tax, the latest figures from the Real Property Association of Canada (REALpac) show that the ratio of commercial to residential tax paid in Canada’s municipalities is 2.79 to 1. However in Toronto, Montreal and Vancouver the commercial sector contributes to taxes at a ratio of 4:1. Toronto is aiming to bring its commercial rates down to 2.5 times residential, while Montreal’s ratio is increasing although the actual cost to businesses is falling. Read the full story.