Municipal Tax Refunds
In the budget setting process for 2017, Cobourg learned that several large corporations had appealed their taxes across Ontario and had been granted refunds and that the impact on Cobourg’s budget would be about $600K. There are other reasons for tax “refunds” so the budget was set at $800K for 2017. But the total so far to date is $1,050K. One of the controversial reasons for tax refunds is the vacancy rebate mandated by the Province but this was only $340K for Cobourg in 2017 and of this only $48K was for Downtown properties. The decision on vacancy rebates has now been passed back to Municipalities and the County is currently reviewing the situation. During 2017, Treasurer Ian Davey provided… Read complete articleMunicipal Tax Refunds