In November of 2021, Toronto City Council adopted the report Implementing a Small Business Property Tax Subclass, which provides a 15% reduction in the tax rate for eligible small business properties. The Province of Ontario will provide a matching reduction in the provincial education portion of property taxes for eligible properties.
Business property owners whose property has been included in the small business property tax subclass do not need to take any further action – the small business subclass classification and reduction in tax rates will be reflected in your final property tax bill.
Tenants of eligible small business properties should speak to their landlord about receiving this reduction.
Tech startups led by Black entrepreneurs can apply for $250,000 over five years, or $50,000 annually.
The Commercial Façade Improvement Grant Program provides funding to commercial property owners and tenants of commercial property, to redesign, renovate or restore facades on commercial buildings that are commercial use at street level and may have commercial and or residential uses on upper floors. The building façade must face a public road or a right-of-way that is accessible to the public.
Half of the costs of eligible improvements is covered up to a maximum $12,500 grant for $25,000 worth of improvements. The minimum grant is $2,500 for $5,000 worth of improvements.
Additional funding of half of the costs of accessibility AODA upgrade improvements up to a maximum $2,500 grant for $5,000 worth of improvements.
The Transit Expansion Construction Mitigation Grant Program provides funding to Business Improvement Areas (BIAs) and business associations for community-driven initiatives that mitigate the impacts of construction on local businesses.
Grants are available in increments of $10,000, $25,000 or $50,000 for projects that meet eligibility requirements.
Streetscape Master Plan & Improvement Cost Sharing Programs
The Streetscape Master Plan Program provides eligible BIAs with one-time funding to acquire consulting services to create comprehensive streetscape plans that guide future improvements.
BIA streetscape master plans help identify a long-term vision for streetscape improvements that can be implemented with support from the BIA Capital Cost-Share Program and other funding sources. Capital Plans provide a framework for the goals and aspirations of the BIA and a reference for City Divisions and Agencies when other works are planned for the area.
Furthermore, the Streetscape Improvements Program provides eligible BIAs with funding where project costs are shared between the City and the BIA, usually on a 50/50 basis.
Capital streetscape projects not only beautify the city, but also make economic sense. Streetscape improvements create safe and attractive retail areas that help BIAs and their members sustain and grow business.
One-time cost-matched funding up to $25,000 is available for professional consulting services. Additionally, a maximum of $700,000 (gross) project value and maximum $1.8 million (gross) value of projects over five year period are available to deliver the project.
Business associations and community groups with strong business participation can receive one-time funding for outdoor mural projects that help promote a local theme and facilitate commercial or industrial neighbourhood identity. The mural program helps local businesses and communities create an attractive and positive identity for their area.
One-time funding is available up to $7,500 for murals in commercial or employment districts. Eligible expenses for murals include artist fees, materials, installation and equipment rental. Maintenance of the murals is the responsibility of the applicant.
