Following on our earlier client updates from
May 1, 2013 and
May 30, 2013 there have been signs of movement on a tax on all
off-street parking spaces on commercial properties in the City of
Toronto.
Such a proposal had been considered but rejected by City Council
in May 2013.
On February 9, 2016, the City of Toronto's Budget Committee
will present to the City's Executive Committee a proposal to
further study the impact of several revenue-generating policy
proposals, including a revived parking tax at the suggested annual
rate of $365 per parking space ($1 per day per stall).
If approved by the Executive Committee and then by Council, a
process of consultation and analysis will begin, with a final
recommendation likely coming sometime in the spring or summer. The impetus behind this proposal put forward by Councillor Joe
Mihevc is the City's projected budget shortfall of $90 million
for 2016. The proposed parking tax (with anticipated exemptions for
municipal
