Commercial real estate group wants councillors to know tax impact

A group of commercial real estate firms aims to inform Toronto councillors about the impact of new taxes.

The Commercial Real Estate Industry Coalition includes the Real Property Association of Canada (REALpac), the Building Owners and Managers Association Toronto (BOMA Toronto) and the Building Industry and Land Development Association (BILD).

The group will participate in the city’s revenue tools conversation and will be ensuring that their voice is heard regarding the impact of new taxes on the city’s competitiveness.

"Our industry believes that the city should not try to solve a short-term problem with a long-term solution," says Michael Brooks, CEO of REALpac. "The City's own financial modelling shows the existing budget gap is most predominant in 2017 and 2018.
Reasonable and broad-based funding can be realized within the existing revenue toolbox without the need to introduce more funding mechanisms."

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Cormierville, Rochebaucourt, Chester, Duvernay, Imperial

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?