“MPAC is not working when it comes to small businesses in Toronto and I am willing and anxious to work with you to find ways to fix it before more jobs are lost.”“We require a fairer model of assessing property taxes for our small businesses and I would encourage you to review options,” Tory wrote. Mayor John Tory is urging the province to fix the way commercial property taxes are calculated after skyrocketing bills forced some small businesses on Yonge St. to shutter, and others to threaten to follow suit. 500-per-cent property tax increase will change the face of Yonge St.: KeenanJohn Anderson, president of the Yonge Street Small Business Association, said Wednesday evening he is pleased Tory has taken this “first step” — but is not impressed with his timing. Small businesses started receiving their property tax bills with the dramatic increases in May, so the mayor’s office knew or should have known this was a “very major problem,” Anderson said. Some small business owners saw their tax bills rise by up to 500 per cent.

Source: thestar August 31, 2017 11:26 UTC