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Property Tax Review Services Helps with Municipal Property Tax Issues

What is the Property Tax Rebate Program for Vacant Commercial and Industrial Buildings and How to Apply

If you do business in Toronto, whether you own income-producing properties or hold commercial or industrial buildings, chances are that the last few years have been kind to you from a vacancy perspective. However, if your building has sat vacant for any period of time, you might qualify for a tax rebate that will help offset the costs of maintaining the idle space. It’s good news for you as a property owner, and Property Tax Review Services can help you get the rebate you deserve. First, more about the rebate and how it works.

Tax Rebate Program Offers Relief for Vacant Units

If you are reconciled with your property’s assessment, yet your property has sat vacant for a period of time, you will definitely have to pay your tax bill…but you may be eligible to get some of that money back in the form of a tax rebate. Here are the eligibility criteria for receiving a rebate:

-Your entire building, or part of it, was unused for at least 90 consecutive days in one tax year;

-It was capable of being leased immediately but you couldn’t find a suitable tenant, OR the unit was unfit, OR it was undergoing renovations that caused the vacancy.

You are NOT eligible for a rebate if your property is only used for seasonal purposes or is considered vacant land.

How to Apply

If you think you might qualify for a tax rebate, you’ll need to fill out and submit detailed paperwork along with supporting documents that prove the location of your building, the broken or expired lease, your attempts to lease it, and other information concerning the vacancy period, square footage, and taxation info. A site visit may be required to substantiate the information you provide. You can hand-deliver your application for to any Civic Centre or City Hall, or you can also fax, mail, courier, or email your application, which can be accessed online.

If you find the tax rebate application process too cumbersome, let us know. Property Tax Review Services wins fair tax treatment for Ontario property owners. We can review your tax bill and help qualified applicants get the rebates they deserve.