At last night's meeting, City Council approved the following changes to the tax policy:

• Supporting the elimination of the Commercial and Industrial vacant and excess land subclass discounts;
• Corresponding reduction in tax ratios for the Commercial and Industrial classes; and
• Addition of a by-law to set 2021 tax rates and to authorize the collection of 2021 property taxes.

The newly approved tax ratios for the Commercial and Industrial class will achieve parity of the industrial tax ratio with the County industrial ratio, allowing for more clarity and consistency between the City and the County.

Provided that County Council supports the elimination of discounts on vacant commercial and industrial subclasses, active commercial properties can anticipate a decrease of 8.63%, and industrial properties may see reductions of 8.46% in their total tax bills.

In addition to eliminating the Commercial and Industrial vacant and excess land subclass, Council also formally passed a by-law to authorize the 2021 tax rate and collection of taxes that was introduced through the 2021 Municipal Budget process. Ratepayers in Owen Sound will see the lowest levy increase in Grey County, with the average residential taxpayer expected to see an increase of just over 1.86%, or $71, on their 2021 Municipal property taxes.

"In addition to having the lowest budget increase in Grey County, we are pleased to continue to lower the commercial and industrial tax ratios. This allows us to be more competitive when attracting new businesses and jobs, without transferring the burden to our residential tax payers. Overall, the approved changes will better align the City with the County’s tax policy and support active businesses," says Mayor Ian Boddy.

source: media release, City of Owen Sound