Bylaw No. 2021-26 The Commercial & Industrial Properties Tax Phase-In Bylaw, 2021 (English, PDF)

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2021-05-05

This Bylaw provides for a tax phase-in plan for the 2021 revaluation for Commercial and Industrial properties and Multi-Family Residential properties that meet the specified requirements. For 2021, the Commercial and Industrial properties will be taxed at 1/3 of the tax increase or decrease resulting from the 2021 revaluation. For 2022, the taxes will be at 2/3 of the increase or decrease resulting from the 2021 revaluation. For Multi-Family Residential properties, the increase will be phased in where the property is owned and operated by a charitable non-profit corporation, it includes an improvement and there was an increase in municipal taxes for the property from 2020 to 2021 equal to more than 100 percent. For 2021, these properties will be taxed at 1/3 of the tax increase resulting from the 2021 revaluation. For 2022, the taxes will be at 2/3 of the increase resulting from the 2021 revaluation.

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