A downtown restaurant is charging customers a small “price adjustment” fee to help deal with increasing property taxes on Yonge St., which has many small businesses in a panic. Sanjoy Kundu, a landlord and owner of costume shop Theatrics Plus, said he paid $20,000 in property taxes last year. Small businesses, in places such as Yonge St., are expected to pay similar property tax as if they were to develop a 40-storey condo. For heritage buildings and small businesses using a property for its “best use” is almost impossible, Kundu said. The House of Lords hair salon recently closed after 51 years, with the owner blaming the increase in property taxes.

Source: thestar November 14, 2017 22:41 UTC