Ontario’s overdue property reassessment is on hold until at least 2024, leaving many commercial ratepayers with a further wait to realize tax reductions from pandemic-related value erosion.

Assessed values in Ottawa and Toronto will be at least seven years out of date and Winnipeg’s will be nearly five years behind before new assessment cycles begin in those cities.

The commercial property tax rate is at least double the residential rate in eight of the 11 surveyed cities, with commercial ratepayers in Montreal, Toronto and Quebec City shouldering the most disproportionate shares.

Tax ratios for 11 of Canada's largest cities demonstrate that commercial ratepayers consistently carry a disproportionate share of the municipal property tax burden.