Owners of Commercial/Industrial properties in Ontario should be aware of the following circumstances where a property might qualify for a tax rebate:
If all or a portion of a building is “clearly delineated” from the rest of the building, has been vacant for a minimum of 90 continuous days, and is not leased.
Changes in Property Use
If a property has experienced a change in use in 2009.
If a property has undergone repairs or renovations in 2009 that prevented its “normal use” for a period of at least three months.
If the property has been demolished, destroyed or damaged such that it is “substantially un-usable” for its purposes.
If the property became exempt from taxation during 2009.
Tax Billing Errors
In addition to the above circumstances, if a taxpayer believes they have been overcharged due to a “gross or manifest error” that is clerical or factual in nature, they can apply to the municipality for a refund of taxes based on the error. The taxpayer may wish to consult a property tax expert in this regard.
Rebates for Charity Tenants
Finally, tenants who are registered charities under the Income Tax Act are eligible for a rebate of a portion of taxes paid.
The deadline for applying to the local municipality for tax relief in any of the above situations is MARCH 1, 2010.