We Are Still Under Attack

Author: John Anderson | | Categories: 100% Tax Increase , News and Information

“WE ARE STILL UNDER ATTACK’ DURING THE MONTH OF SEPTEMBER ALL WAS QUIET ON YONGE STREET AS WE WAITED TO SEE WHAT WAS GOING TO HAPPEN WITH OUR REASSESSMENTS.SO THE ANSWER IS THAT 88 PROPERTIES RECEIVED A 50% DECREASE FROM THE NEW HUGE INCREASE. WE NOW FACE A 50% INCREASE FROM LAST YEAR. WE NOW HAVE 3 MORE YEARS OF SIMILAR INCREASES.

TODAY WE ARE STARTING TO SEE THE TAX INCREASES BEING PASSED ON TO THE TENANTS. IN SOME CASES $3000 TO $4000 PER MONTH MORE.THE CHOICES ARE LOOKING GRIM AND MOST DIFFICULT.

WE KNOW THAT WE WERE TARGETED BY THE MAYOR AND HIS BUREAUCRATS.THEY WANTED TO SOFTEN UP THE YONGE STREET LANDLORDS SO THAT THEY WOULD SELL NOW AND NOT STAND IN THE WAY OF NEW CONDO DEVELOPMENT. BECAUSE OF THE PREDATOR NATURE OF THIS ASSAULT ON LANDLORDS THEY ARE DIGGING IN AND PROFESS THEY WILL SELL TO ANYONE EXCEPT THE DEVELOPERS.THE CITY HALL PLAN IS NOT WORKING.

SO BEWARE TORONTO THIS STRATEGY WILL NOT STOP ON YONGE STREET. THE WAREHOUSES IN WEST KING STREET FACE THE BIG INCREASE OF 100%.YOU FOLLOWED THE 401 RICHMOND STREET STORY, ANOTHER BAD STORY THAT HAS NOW BEEN FIXED BY THE PROVINCE. THE NEXT AREA THAT WILL BE UNDER ATTACK IS YONGE /EGLINGTON AS YOU READ ABOUT RESIDENTS OBJECTING TO BIGGER AND LARGER CONDOS.

THIS EXPERIENCE HAS BEEN A QUICK LEARNING CURVE.WE NOW KNOW THERE IS A TWO TIER TAX SYSTEM IN TORONTO. THE FINANCIAL DISTRICT IS ASSESSED BY INCOME NOT HIGHEST AND BEST USE AS WE ARE ON YONGE STREET.WE ALSO KNOW THAT THERE ARE “GHOST PROPERTIES” THAT DO NOT APPEAR ON THE MPAC WEB SITE" MY PROPERTY.COM WE ALSO HAVE VALUE ADDED PROPERTIES ON YONGE STREET THESE PROPERTIES ARE EASY TO SPOT AS THEIR VALUES ARE SIGNIFICANTLY LOWER THAN ALL THE OTHERS IN THE NEIGHBOURHOOD.

YES A LOWER TAX FOR THE FINANCIAL CORPORATE AND A HIGHER ASSESSMENT FOR MAIN STREET SMALL BUSINESS.SO TELL ME IS THIS RIGHT?

THIS IS OCCUPY YONGE STREET WHEN THE LARGE CORPORATE BUSINESSES HAVE ONE SET OF RULES AND THE WEE PEOPLE ON YONGE STREET HAVE ANOTHER SET OF ASSESSMENT RULES.

THERE ARE RUMOURS THAT THE PROVINCE IS LOOKING AT A REVIEW OF THE ASSESSMENT PROCESS. YES THIS IS NEEDED NOW AS PROPERTY VALUES HAVE ESCALATED OUT OF CONTROL.IF THE RULES ARE NOT CHANGED THERE WILL BE LITTLE SMALL BUSINESSES LEFT AFTER THEY FACE THIS MASSIVE ASSAULT.THERE ARE RUMOURS THAT THE CITY IS HIRING NEW TAX SPECIALISTS TO TAKE TO THESE HEARINGS.THE CITY NOW FINDS ITSELF HAVING ONE OF THEIR PRIME REVENUE SOURCES UNDER REVIEW.I BET THIS WAS NOT IN THEIR TAX STRATEGY LAST JANUARY.THIS IS WHAT HAPPENS WHEN YOU CROSS OVER THE LINE OF WHAT THE CITIZENS OF TORONTO BELIEVES YOU CAN OR CANNOT DO.THIS TAX INCREASE WAS A WEAPON TO ELIMINATE SMALL BUSINESS THAT HAS BEEN LAW ABIDING TAXPAYERS FOR OVER 50 YEARS. SHAME SHAME !!!!! AND NOW WE MUST WORK TO ENSURE THAT THIS CANNOT HAPPEN AGAIN.

 

JOHN ANDERSON

SMALLBIZONYONGEST.COM

OCT 6 2017

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