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Muskoka Scraps Vacancy Rebates For Commercial & Industrial Properties

Posted: 2018-05-15 10:33:53 By: hbr

The Province has authorized elimination of the Vacant Unit Rebate for the lower-tier municipalities in the District of Muskoka.
The Vacant Unit Rebate is a program that provides a tax rebate to property owners who have vacancies in commercial and industrial buildings.  In Muskoka, the program provided a 30% reduction to property taxes levied if the unit met the eligibility criteria.
In late 2017, municipalities in Muskoka consulted with the business community and the feedback determined that the vacant unit rebate program benefitted relatively few property owners and did not encourage steadfast occupancy of commercial and industrial buildings.  
Yesterday, the Ministry of Finance exempted municipalities in the District of Muskoka from the requirement to provide tax rebates for property with vacant portions for 2018 and subsequent taxation years.