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 2016 and continue to be capped in 2017 or clawed back in 2016 and continue to be clawed back in 2017.  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:

The greater of

  • 10% of the property's prior year's annualized capped taxes; and
  • 10% of the property's prior year's annualized taxes based on current value assessment (CVA);
  • If the property is within $500 CVA taxes after the cap is applied, the property will pay taxes at CVA.
     

The cap is funded through a claw back of assessment related tax decreases.  The 2017 claw back rates are as follows:

Commercial 36.749380%
Industrial 35.985530%
Multi-Residential 27.747520%

If the property is within $500 of CVA taxes after the claw back is applied, the property will pay taxes at CVA and receive the full amount of their assessment related decrease.

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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