Media Release
Business owners asked to weigh in on Vacant Unit Tax Rebate Program
HAMILTON, ON - April 20, 2017 – Have you applied for the City's Vacant Unit Tax Rebate Program in the past? The City of Hamilton wants to hear from you. The Province of Ontario is now allowing flexibility for municipalities to decide how to run this program.
There are a number of new, possible options. The City may keep the rebate and tax discount program in place or put time limits on the number of years owners are eligible or can apply. We may also look at eliminating the program completely. This is why we would like to hear directly from our business community.
Quick facts
What is the Vacant Unit Rebate Program?
- Commercial/Industrial properties are eligible - application is required.
- Current rebate 30% - the City receives requests from approximately 500 to 550 properties annually.
- This amounts to $2 to $3 million rebated annually to business owners, with more than half of the properties recurring each year.
What is the Vacant/Excess Land Discount Rate?
- Commercial/Industrial properties are coded and assessed by MPAC - no application required.
- Land without buildings/structures; land not needed to support business.
- Generally is a 30% discount tax discount.
- This amounts to $3 million approximately annually.
Why would the City of Hamilton eliminate this Program?
- Vacant properties have a negative impact on neighbourhoods.
- Vacancy is already factored into lower tax assessment.
- There is concern that the rebate program may actually encourage a lack of property development.
- There are falling Commercial/Industrial assessments and appeals.
Ways for business leaders to share their thoughts regarding this Program:
- Send your written submission to: [email protected]
- If received by May 5, 2017, this will be incorporated into the Staff Recommendation Report.
- If received by May 13, 2017, this will be included as “Correspondence” to the June 7 GIC Agenda.
- Come to speak at the City of Hamilton June 7th GIC meeting. Please make this request to appear as a delegation to the Clerk’s Office by June 6, 2017 by 12 noon.
Tags
City & Council
City Manager's Office
Budget & Finance
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