In December 2000, the Province introduced a new program to deal with vacant commercial and industrial units. Commencing 2001, all commercial and industrial buildings were assessed and taxed as fully occupied. Property owners are now required to apply to the municipality for vacant unit rebates by February 28 of the year following the vacancy.
Property owners may submit a maximum of two applications per property per year. For instance, an owner can submit one application at the end of the year for all vacant units or submit one application for all vacant units during the first six months and a second application for the last six months of the year. Once received, applications are sent to MPAC (Municipal Property Assessment Corporation) to identify the assessment value of the vacant portions which Richmond Hill will use to calculate the rebate. The rebates will be calculated by applying a discount of 35 per cent for industrial properties or 30 per cent for commercial properties against the taxes associated with the vacant area. If a property owner disagrees with the amount of the vacancy rebate they may appeal to the Assessment Review Board within 120 days of receiving the notification of the amount of the rebate from Richmond Hill.
Applications can also be requested from Revenue Services by calling (905) 747-6315 or can be downloaded here:
Application for Rebate of Property Taxes for Vacancies in Commercial and Industrial Buildings [PDF]
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