October 2016
Toronto lacks a municipal tax system that treats condo owners fairly.
A condo suite is taxed the same as a free-standing single family house despite the benefits of high density development.
A 40 page report explains the municipal tax system as it pertains to condominiums. It shows that the average condo was assessed at $226,000 which is a little higher than an average free-standing single family house.
Services provided to a condo are comparable to what is provided for an apartment which is assessed at $87,000 on average.
It is more costly to service 100 free-standing single family houses than it is to service 100 condos in a high-rise building.
The report is published by the Canadian Condominium Institute.
