Tax Forms - Business
Download all Taxes and Assessment related forms. Every form is in PDF format and requires Adobe Acrobat Reader to be installed on your computer. This software is free and available from the Adobe Website.
  Business Tax Forms
 
Tax Calculation
Your Tax Bill

For the purpose of calculating your taxes, a phased-in assessment amount is used. Where your assessment has increased from previous valuation date, your assessment increase is phased-in over four years (for example, 25% adjustment in each of 2017, 2018, 2019, and 2020). Reassessment related tax increases on commercial, industrial, and multi-residential properties are no longer limited through a cap unless they were capped in 2017 and continue to be capped in 2018;or clawed back in 2017 and continue to be clawed back in 2018. Reassessment increase in the capping calculation is excluded for 2018. Properties which would move from capping to claw back or vice versa are billed at CVA taxes. For those properties that are capped, the cap is calculated as follows:

 
Tax Class
 
Commercial
Industrial
Multi-
Residential
2018 Cap %
10.0%
10.0%
10.0%
% of prior year CVA Tax
10.0%
10.0%
10.0%
$ Threshold Capped
$500
$500
$500
$ Threshold Clawback
($500)
($500)
($500)
Exclude 2017 @ CVA Tax
Yes
Yes
Yes
Exclude Crossover CVA Tax
Yes
Yes
Yes
Exclude Reassessment Impact
Yes
Yes
Yes
Four-Year Phase Out
N/A
Year 2
Year 2

The cap is funded through a claw back of assessment related tax decreases.  The 2018 clawback rates are as follows:

 
Tax Class
 
Commercial
Industrial
Multi-
Residential
 Clawback %
16.30502%
12.99790%
3.70367%

If your property is capped, your bill contains an "Explanation of Multi-Residential, Commercial and Industrial Property Tax Calculations" section which highlights the capping calculation and the various tax increases for your property.

Residential Tax Information
Residential Tax Information - find out more information, download forms and review tax rates online by visiting our residential tax & assessment page.
  Residential Tax Information
 
Tax and Assessment Links
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