TCHC and Their Cabbagetown Heritage Home Quandary

[Peepers]

Slightly off-topic but does anyone know whether property taxes are any different for a heritage property as compared to a physically equivalent property in the same neighborhood that has not been deemed a heritage property?

There are generous tax rebates as well as grants available from the city so if these were in the right private hands there would be incentives to restore the properties to pristine condition.

If the city does sell off these homes the key will be finding the "right' buyers. The worse thing that could happen would be for them to be purchased by a slum landlord who would continue to run them as rooming houses.

From the city website:

Are heritage grants available?
The Toronto Heritage Grant Program encourages the conservation of properties designated under Part IV or V of the Ontario Heritage Act in the City of Toronto through matching grant funding of up to 50% of the estimated cost of eligible heritage conservation work. Details about eligibility requirements, the application process and public workshops are available on our website.



What is the Tax Rebate Program?
The City of Toronto's Heritage Property Tax Rebate Program provides eligible heritage property owners with a 40% rebate on their municipal and educational property taxes for the eligible heritage portions of their property. To be eligible for this program, properties must be designated under Part IV or V of the Ontario Heritage Act and subject to a Heritage Easement Agreement (as of September 30, 2006).

http://www.toronto.ca/heritage-preservation/heritage_questions.htm

 

[James]

Thank you for the link, Peepers. That was helpful information.

 

[jn_12]

I took part in a chat between heritage professionals and habitat for humanity on Wednesday, and I wonder if maybe a group like that which is pretty interested in preservation and serves a similar mandate would be an option for the TCHC?