Item - 2019.EX4.6
Tracking Status
- City Council adopted this item on April 16 and 17, 2019 with amendments.
- This item was considered by Executive Committee on April 9, 2019. It is being forwarded to City Council without recommendations. It will be considered by City Council on April 16 and 17, 2019.
- See also By-law 591-2019
EX4.6 - 2019 Education Property Tax Levy and Clawback Rate By-law
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
City Council Decision
City Council on April 16 and 17, 2019, adopted the following:
1. City Council adopt the 2019 tax rates for school purposes, as shown in column II, which will raise an education tax levy on rateable properties for 2019 of $2,242,074,103, in accordance with O.Reg. 400/98 as amended, prescribing such rates for the City of Toronto:
|
Column I |
Column II |
|
Property Class |
2019 Tax Rates for Education Levy |
|
Residential |
0.161000% |
|
Multi-Residential |
0.161000% |
|
New Multi-Residential |
0.161000% |
|
Commercial |
1.030000% |
|
Commercial (New Construction) |
1.030000% |
|
Commercial Residual |
1.030000% |
|
Commercial Residual l (New Construction) |
1.030000% |
|
Industrial |
1.110878% |
|
Industrial (New Construction) |
1.030000% |
|
Pipelines |
1.290000% |
|
Farmlands |
0.040250% |
|
Managed Forests |
0.040250% |
2. City Council adopt reductions in tax decreases for the 2019 taxation year on properties in the commercial, industrial and multi-residential property classes by the percentage of the tax decrease set out in Column II in order to recover the revenues foregone as a result of capping:
|
Column I |
Column II |
Column III |
|
(Property Class) |
(Clawback Percentage) |
(Allowable Decrease) |
|
Commercial |
65.068190% |
34.931810% |
|
Industrial |
50.130410% |
49.869590% |
|
Multi-residential |
39.891946% |
60.108054% |
3. City Council authorize the introduction of the necessary Bills in Council to give effect to City Council's decision.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2019/ex/bgrd/backgroundfile-131244.pdf
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2019/cc/bgrd/backgroundfile-132100.pdf
Motions (City Council)
That City Council adopt the following recommendations in the supplementary report from the Chief Financial Officer and Treasurer [EX4.6a]:
1. City Council adopt the 2019 tax rates for school purposes, as shown in column II, which will raise an education tax levy on rateable properties for 2019 of $2,242,074,103, in accordance with O.Reg. 400/98 as amended, prescribing such rates for the City of Toronto:
|
Column I |
Column II |
|
Property Class |
2019 Tax Rates for Education Levy |
|
Residential |
0.161000% |
|
Multi-Residential |
0.161000% |
|
New Multi-Residential |
0.161000% |
|
Commercial |
1.030000% |
|
Commercial (New Construction) |
1.030000% |
|
Commercial Residual |
1.030000% |
|
Commercial Residual l (New Construction) |
1.030000% |
|
Industrial |
1.110878% |
|
Industrial (New Construction) |
1.030000% |
|
Pipelines |
1.290000% |
|
Farmlands |
0.040250% |
|
Managed Forests |
0.040250% |
2. City Council adopt reductions in tax decreases for the 2019 taxation year on properties in the commercial, industrial and multi-residential property classes by the percentage of the tax decrease set out in Column II in order to recover the revenues foregone as a result of capping:
|
Column I |
Column II |
Column III |
|
(Property Class) |
(Clawback Percentage) |
(Allowable Decrease) |
|
Commercial |
65.068190% |
34.931810% |
|
Industrial |
50.130410% |
49.869590% |
|
Multi-residential |
39.891946% |
60.108054% |
3. City Council authorize the introduction of the necessary Bills in Council to give effect to Council's decision.
EX4.6 - 2019 Education Property Tax Levy and Clawback Rate By-law
- Decision Type:
- ACTION
- Status:
- Without Recs
- Wards:
- All
Committee Recommendations
The Executive Committee forwards the item to City Council without recommendations.
Decision Advice and Other Information
The Executive Committee requested the Chief Financial Officer and Treasurer to report directly to City Council at its meeting on April 16 and 17, 2019 on this matter.
Origin
Summary
This is to advise that the report "2019 Education Property Tax Levy and Clawback Rate By-law" will be on the agenda of the Executive Committee meeting on April 9, 2019. The report is predicated on the Ministry of Finance making the Regulation, prescribing the tax rates for school purposes for the 2019 taxation year.
Background Information
https://www.toronto.ca/legdocs/mmis/2019/ex/bgrd/backgroundfile-131244.pdf
Motions
That Executive Committee:
1. forward the item to City Council without recommendation; and
2. request the Chief Financial Officer and Treasurer to report directly to City Council at its meeting on April 16 and 17, 2019 on this matter.