Peel Region reviewing tax reduction program for possible changes
The region of Peel has announced that it is reviewing the Vacant and Excess Land Subclass Reduction Program, which provides a property tax reduction to property owners with eligible vacant or excess land, both commercial and industrial, as assessed by the Municipal Property Assessment Corporation. (MPAC)
According to the region of Peel, this program has provided both commercial and industrial property owners with property tax reductions since 1998.
Peel is inviting business owners and residents to provide their feedback and encourages them to attend a public meeting with regional staff and local municipalities.
These discussions will take place this month in Brampton, Mississauga and Caledon, where the information collected will be used to help make a decision and will follow with a survey for the general public.
During the month of November, staff for the Region and Local Finance/Tax Policy will collect the community's feedback from both the consultation and survey, review and prepare recommendations to the program before reporting to Council for a discussion and possible approval in January 2020.
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