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Toronto eyes extending 10% cap on tax hikes : Measure in mayor's proposed budget aims to relieve mom-and-pop shops located in city's high-density areas

Mar 04, 2019 - The Globe and Mail (Canada)

With soaring property taxes and lease rates putting intense pressure on small business, the City of Toronto is proposing a 10-per-cent cap on all commercial, industrial and multiresidential tax increases for a second year in a row.

The measure, which council will consider on March 7 as part of Mayor John Tory's proposed budget, is meant to relieve mom-andpop shops in high-density areas such as Yonge Street and Danforth Avenue, where skyrocketing property values have slammed businesses with...