A New Property Tax Subclass to Support Small Businesses

Last month, City Council adopted a new Small Business Property Tax Subclass to help alleviate pressure on small businesses, which have been hard-hit by the COVID-19 pandemic. Eligible businesses will see a 15% reduction in their taxes from the current commercial property tax class rate.

The design for this new tax subclass was refined through multiple rounds of consultation as well as feedback from tax experts, business owners, and residents. You can find more details on this new tax subclass, including eligibility requirements, on the City's website.

Small businesses are a critical component of our city's vibrancy and Ward 15, in particular, is home to some of the most incredible main streets in all of Toronto. This holiday season, please consider supporting our small business community by choosing to shop local.