Ontario’s government needs to reform property taxes GlobeBusiness
Ontario Premier Doug Ford attends a portrait unveiling ceremony for Former Ontario Premier Kathleen Wynne at the Ontario Legislature, in Toronto, Monday, Nov. 9, 2019. The Ford government has repeatedly said it wants to make Ontario a friendlier place for entrepreneurs and businessesThe Ford government wants to project its “open for business” ethos in 2020 and beyond.
the total tax burden on business investment in major Canadian cities? How fair and efficient are these taxes?In the fall economic statement, the government said it would seek input on how to improve business property taxation, with an eye to boosting competitiveness. Thankfully, it doesn’t have to look very far for answers.
However, the province levies its own property tax to fund public education. Across the same 29 municipalities, the ratio of commercial-to-residential property tax rates levied by the province was almost 6 to 1 in 2017. In other words, decisions made at Queen’s Park – not city hall – largely drive the relatively high property tax rates on Ontario businesses.
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