, are grappling with another big challenge in Canada: a property tax system that’s increasingly tilted against them, according to a report by Altus Group Ltd., Montreal and Vancouver — commercial properties are taxed at more than three times the rate of residential ones. The average gap across 11 major cities has widened in the past year, the Canadian real estate data firm said in the study.
The tax inequity between commercial and residential is greatest in Montreal, the business and financial capital of Quebec, where commercial real estate is taxed at $34.51 per $1,000 of property value, compared with about $8 per for homes, according to the Altus analysis.The Altus report, done in conjunction with the Real Property Association of Canada, said the gap between commercial property tax rates and residential rates has widened over the past 20 years — though the trends differ by region.
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