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%