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March 18, 2009
Media Briefing - Executive Committee Report
Media Briefing - Executive Committee Report:
Business property tax reductions
Enhancements to tax increase assistance programs
Approval of City tax rates

Toronto City Manager Joe Pennachetti and Deputy City Manager and Chief Financial Officer Cam Weldon will provide a technical briefing to media on continued reductions to business property taxes, implementation of enhanced tax increase deferral and cancellation programs for seniors and persons with disabilities, and announce 2009 tax rates for all property classes. Final tax rates and ratios are impacted by various factors and provincial regulations including phased implementation of current value assessment (CVA). As CVA is revenue neutral it does not generate new or additional revenues for the City. There is no change to the proposed 4% residential property tax increase.

Date: Friday, March 20
Time: 10:30 a.m.
Location: City Hall, 7th Floor, East Tower, Main Boardroom

The briefing is being held to provide background on the report on these matters which will be considered by Executive Committee on Tuesday, March 24.

The report is entitled 2009 Property Tax Rates and Implementing Enhancing Toronto’s Business Climate Strategy and will be available at the briefing.

Toronto is Canada's largest city and sixth largest government, and home to a diverse population of about 2.6 million people. It is the economic engine of Canada and one of the greenest and most creative cities in North America. Toronto has won numerous awards for quality, innovation and efficiency in delivering public services. 2009 marks the 175th anniversary of Toronto's incorporation as a city. Toronto's government is dedicated to prosperity, opportunity and liveability for all its residents.

Media contact:
Kevin Sack, Director, Strategic Communications, 397-5277,



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