CREATIVE HUBS GET A TAX GIFT IN TORONTO BUDGET

Feb 12, 2018

By Michael Kramer

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GOOD NEWS FOR THE TORONTO ARTS AND CULTURE SECTOR.

COUNCIL HAS VOTED TO REDUCE PROPERTY TAXES BY 50 PER CENT – FOR SOME CULTURAL HUBS AND CREATIVE SPACES.

TRINITY-SPADINA COUNCILLOR JOE CRESSY LED THE CHARGE TO ESTABLISH A NEW TAX SUB-CLASS FOR “CREATIVE CO-LOCATION FACILITIES” SAYING THE ABSENCE OF ARTS AND CULTURE MAKES FOR AN UNLIVABLE CITY – AND ALSO HURTS THE ECONOMY.

CITY STAFF WILL MONITOR THE IMPACT OF THE NEW TAX REDUCTION – AND REPORT BACK TO COUNCIL IN 2019.

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