Properties in the commercial, industrial and multi-residential classes are subject to tax increases capped or limited to 10% over the prior year's annualized taxes. Municipal budgetary increases are in addition to the 10% cap limit. For properties that are decreasing under the capping legislation, a portion of the tax decrease is withheld to fund the cap on tax increases. Please refer to Schedule 3 on the back of your tax bill for a detailed calculation of your taxes.
Capping and clawback schedules are also available for 2019.
2020
Capping Parameters |
Multi-Residential |
Commercial |
Industrial |
---|---|---|---|
Annualized Tax Limit |
|
10.00% |
|
Prior Year Current Value Assessment (CVA) Tax Limit |
|
10.00% |
|
CVA Threshold - Increasers |
|
500 |
|
CVA Threshold - Decreasers |
|
0 |
|
Capping Clawback and Retained Portions |
Multi-Residential |
Commercial |
Industrial |
---|---|---|---|
Clawback Percentage |
|
0% |
|
Retained Percentage |
|
100% |
|
Overall Levy Change Factor |
Multi-Residential |
Commercial |
Industrial |
---|---|---|---|
2.639151% |
1.638911% |
1.702080% |
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