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Fortunately, it was communicated in the meeting that there are now no plans to bring the proposal to Council for consideration.
Of the proposed changes included in the City’s original proposal, the only one that would be acceptable to industry would be the change to five-year land averaging coming in to effect in 2018 instead of 2019. Support for this interim measure would only be affirmed with the condition that commercial rent controls not be under consideration. A further condition is that properties that experience a class change do not get excluded from land averaging.
Moving forward, the Coalition recommends that a joint task force including industry representatives be established to explore alternative solutions including an analysis of the tax shift consequence of adopting split assessments across all properties consistent with the “AMACON” approach adopted in various appeal board decisions.
The Coalition agreed to send a formal response next week to the Minister of Municipal Affairs and Housing, Hon. Selina Robinson, regarding this issue in the event that the Provincial Government attempts to address it in the Spring Legislative Session.