Contrary to the commitment it made in 2007, the Province maintains significantly higher property tax rates on Toronto's commercial properties than on commercial property in adjoining municipalities. Toronto's rate is 12% hiigher than Durham, 17% higher than Peel, 22% higher than YorkRegion and 40% higher than Halton. No wonder the Ontario property tax has been described as arguably the most inequitable provincial tax in Canada.
"Although it is called a Business Education Tax, the tax is no longer earmarked for education and has become simply another provinicial revenue stream like the HST or corporate income tax. As such it simply becomes a tax on real property" said Lionel Miskin, Vice President of TABIA and Chair of it's Tax Committee.