Title
PRESENTATION CONCERNING THE SMALL BUSINESS PROPERTY TAX SUBCLASS (SBTC) (Note: Report to Committee, Item 6.1)
Grace Marsh, Acting Manager of Revenue and Taxation provided a presentation concerning the Small Business Property Tax Subclass (SBTC).
Ms. Marsh discussed slides concerning the following topics:
• The key information associated to defining, the benefits and the impacts for a small business class property owners;
• The 2021 taxation policy changes and benefits;
• A report entitled “Ontario’s Small Business Property Sub Class: Considerations for Municipalities” released September, 2021;
• Small business considerations associated policy drivers, targets, defining the small business, tax impacts and funding, consultation and administrative processes and by-laws;
• Charts illustrating City wide all class funding and funded within class analysis for 2022;
• The pros and cons of a City Wide Program;
• Charts illustrating the Downtown Barrie Improvement Area (DBIA) all class funding and funded within class analysis for 2022;
• The pros and cons of a DBIA Program; and
• General comments associated to benefits and drawbacks of programs for small businesses.
Members of Committee asked a number of questions of City staff and received responses.