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

(January 6, 2020) Report from the Chief Financial Officer and Treasurer

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

(January 6, 2020) Report from the Chief Financial Officer and Treasurer on 2020 Property Tax Rates and Related Matters
https://www.toronto.ca/legdocs/mmis/2020/bu/bgrd/backgroundfile-144593.pdf

Communications

(January 24, 2020) E-mail from Thomas Currie (BU.Supp.BU15.1.1)
(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

1 - Motion to Defer Item moved by Councillor Gary Crawford (Carried)

That consideration of the item be deferred until the February 4, 2020 meeting of the Budget Committee