City ponders phasing out tax rebates
The city held a couple of public information sessions about phasing out a tax rebate program for owners of vacant properties on Tuesday and just two people attended.
The city wanted the public to come learn more and offer opinion on a plan to stop offering a 30 per cent tax break to owners of vacant industrial or commercial properties.
There were two public sessions, on Tuesday at City Hall: one from 2 until 4 p.m. (which attracted two people) and another from 6 to 7 p.m. (which attracted nobody).
City treasurer Sandra Clancy said one of the afternoon attendees was Sandra Dueck, policy analyst for the Greater Peterborough Chamber of Commerce; Dueck was representing all members of the chamber.
Clancy said the sessions were publicized by the city in advance.
“I’m not sure what you can do - we put it out there,” she said.
The city currently offers the rebate when properties are vacant for longer than 90 consecutive days.
For years, the province has expected cities to offer the owners of vacant properties a tax break - but now it is allowing municipalities to cancel it, if they wish.
City staff is recommending that the rebates be phased out - and citizens and business people are being asked what they think.
In a recent report to city councillors, Clancy suggested that the rebate be phased out over the next three years. She noted in the report that the rebate can be considered a disincentive for owners to rent out their properties.
To phase out the program would save the city money.
A handout at the public sessions states that $300,000 has been set aside in the city budget for the rebates in 2017.
Clancy said the city is still accepting comments from the public by email. She expects to bring a recommendation to councillors either on May 27 or sometime early in June.
The province wants to know by July 1 whether the city intends to phase out is tax rebate program.
NOTE: To offer opinion on this to city staff, email taxation officer Kim McPhail at kmcphail@peterborough.ca.