Dec. 13, 2010, Toronto – Ontario is changing the farm bunkhouses
property tax classification from residential to farm beginning Jan. 1,
Dec. 13, 2010, Toronto – Ontario is changing the farm bunkhouses property tax classification from residential to farm beginning Jan. 1, 2011.
Farmers with residences that house temporary workers will pay the farm property tax rate, which is 75 per cent lower than the residential rate. There are approximately 2,000 bunkhouses located on farms across the province.
By reducing the tax burden on our farmers, we're increasing the competitiveness and economic strength of our province's agricultural industry," said Carol Mitchell, minister of Ontario Agriculture, Food and Rural Affairs.
Farm properties are assessed by Municipal Property Assessment Corporation based on farmer-to-farmer sales of farmland and are taxed at 25 per cent of the residential rate.
"Our government is listening to Ontario farmers and taking action. This change will ensure consistent property tax treatment for farm properties across the province," said Dwight Duncan, minister of Finance.
Click here to learn more about the Property Assessment and Classification Review of Farms in Ontario.
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