To address the second most common question, we would like to provide you with information that may help clarify the levies that businesses will be providing to the BIA, once it is established. It is important to state that a BIA’s levy is not in any way associated with taxes. Rather, the levy of a BIA is based on the assessment carried out by MPAC for each commercial property and is utilized by the BIA Board of Management, made up of local business owners and leaders, to directly support the businesses within the BIA’s boundaries.
We are proposing a levy rate of 0.03 to 0.04 percent per $100 of assessed property value. This will be one the lowest levies by any of the other 83 BIA’s in Toronto.