Rental developers must factor property tax rates into their feasibility projections.
industrial property tax
Calgary city council cut business property taxes by 11 per cent.
Approximately 15 per cent of Montreal's street-level retail spaces are vacant.
In the City of Toronto, property tax rates for commercial properties were almost four times higher than for residential properties.
Either they must charge higher prices, or they will go out of business.
The total value of office space in Calgary has dropped by 31 per cent.
In the Greater Toronto and Hamilton Area, commercial property tax rates were 2.2 times higher (on average) than residential rates.