“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…
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We Are Still Under Attack
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Day 74 Yonge Street Tax Revolt
The majority of the affected properties receives at 50% decrease of their new hyper increased assessment. I.e a 1000 square foot store with a $980,000 assessment in 2016 received a 5,000,000 assessment in 2017. After this re-assessment this store saw a decrease to 3 million dollars.
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Yonge Street Tax Revolt
Check out the article here https://thevarsity.ca/2017/09/11/yonge-street-tax-revolt/
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Toronto’s Small Business Owners Are Third Class Citizens
The owners of Toronto’s small businesses are being treated like third class citizens by the City of Toronto. Everyone else seems to be valued and protected except us. Quite rightly there are rules that state that residential tenants cannot have their rents increased by more than 3% per year, since large rent increases would be devastating for ordinary people. Quite rightly low income seniors who own houses but who cannot pay increasing taxes on their properties are protected from losing their homes. There is no protection for small business however. It’s as if in the mindset of City politicians and staff is that there is absolutely no…
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metronews.ca "Seeking relief from the property tax corkscrew: Matt Elliott"
Read the article here: http://www.metronews.ca/views/toronto/torys-toronto-matt-elliott/2017/08/14/seeking-relief-from-the-property-tax-corckscrew.html
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Councillor Kristyn Wong-Tam pushes for property-tax reform on Yonge Street
http://www.metronews.ca/news/toronto/2017/08/14/yonge-street-pushes-back-against-taxes.html
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'No one can afford' 100% property tax increase, Yonge Street business owner says'
http://www.cbc.ca/news/canada/toronto/yonge-businesses-tax-increase-1.4233145
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"No Davids in Goliath Jr.’s property tax battle" The Toronto Star
Check out more coverage in our tax battle! https://www.thestar.com/opinion/letters_to_the_editors/2017/08/06/no-davids-in-goliath-jrs-property-tax-battle.html
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500-per-cent property tax increase will change the face of Yonge St. : Keenan
The Toronto Star coverage of the 500% tax increase! https://www.thestar.com/news/gta/2017/08/03/500-per-cent-property-tax-increase-will-change-the-face-of-yonge-st-keenan.html
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Yonge street's famous House of Lords plans to shut down due to the huge 500% property tax increase
Yonge Street Businesses are facing extinctsion from a new 100% tax increase year on year for the next 5 years. That's a 500% tax increase that is going to cause businesses on Yonge to go out of business at a rapid pace. The Toronto Star reported that the famous House of Lords has announced its closing. "On Tuesday, Paul Burford, the owner of House Of Lords, declared on Facebook that he was closing his studio due to increasing property taxes. He told his staff on Wednesday that the studio would close on October 1, after 51 years of operation." Toronto Star https://www.thestar.com/news/gta/2017/08/02/after-51-years-house-of-lords-hair-salon-on-yonge-st-set-to-close.html
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Yonge Street Overnight 100% Tax increase 2017
This sudden 100% tax increase will not only destroy 2000 Yonge Street small business owners but may cause their employees to go bankrupt and lose their livelihoods as well.
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Memo on 100% Tax Increase: Yonge Street Small Business Association
Do we want Yonge Street to be boarded up and to lose all its pedestrian traffic and vitality?Most Small Businesses are tenants who have leases comprised of taxes, maintenance costs, and rent. On downtown locations like Yonge Street near Bloor, taxes can comprise up to 60% of gross monthly rent. If the business can’t pay the sudden 100% increase, because of the contractual nature of the lease, they can’t just walk away. The landlord can sue them, they can lose their house and have their business will have to go bankrupt.
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