For Immediate Release:
Contrary to the commitment it made in 2007, the Province maintains significantly higher tax rates on Toronto's commercial properties than on commercial property in the adjoining municipalities. Toronto's rate is 12% higher than Durrham, 17% higher than Peel, 22% higher than York Region and 40% higher than Halton. No wonder the Ontario property tax has been described as arguably the most inequitable tax in Canada.
"Although it is called a Business Education Tax, the tax is no longer earmarked for education and has become simply another provincial revenue stream like the HST or corporate income tax. As such it simply becomes a "tax on property" said Lionel Miskin, Vice President of TABIA and Chair of it's Tax Committee.