Small Business Property Tax Subclass

Who can apply

To be eligible for inclusion in the Small Business subclass, a property must meet either of the criteria set out below, depending on the location of the property.

Property location | Criteria to qualify for the subclass

Property location: Anywhere in the city

Criteria to qualify for the subclass: Property must be classified within the Commercial or New Commercial Property Tax Class (CT or XT classification), with certain property types excluded – refer to note 1 below.

Criteria to qualify for the subclass: Current Value Assessment (for 2026 taxation year)

Criteria to qualify for the subclass: must be $10,000 or more and $1 million or less

Property location: Properties located within Downtown and Central Waterfront, Growth Centres, and/or Avenues (refer to note 2 below)

Criteria to qualify for the subclass: Property must be classified within the Commercial or New Commercial Property Tax Class (CT or XT classification), with certain property types excluded – refer to note 1 below.

Criteria to qualify for the subclass: Current Value Assessment (for 2026 taxation year)

Criteria to qualify for the subclass: must be $10,000 or more and $7 million or less.

Criteria to qualify for the subclass: Lot size must be 7,500 square feet or less

Criteria to qualify for the subclass: or

Criteria to qualify for the subclass: Gross Floor Area (GFA) of 2,500 square feet or less (applies only to commercial condominiums).

Property location: Strip Plaza Anywhere in the City

Criteria to qualify for the subclass: Identified strip plaza properties where the following criteria are satisfied:

Criteria to qualify for the subclass: Property must be classified within the Commercial or New Commercial Property Tax Class (CT or XT classification), with certain property types excluded – refer to Note 1 below.

Criteria to qualify for the subclass: The property is categorized by the Municipal Property Assessment Corporations as one of the following Property Codes: 425 Neighbourhood Shopping Centre with anchor, 429 Community Shopping Centre, or 430 Neighbourhood Shopping Centre without anchor.

Criteria to qualify for the subclass: The property has two or more attached retail establishments and shared or common parking areas.

Criteria to qualify for the subclass: The current Value Assessment (for 2026 taxation year) of the property is $10,000 or more and $7,000,000 or less,

Criteria to qualify for the subclass: And

Criteria to qualify for the subclass: The property has a site area of less than or equal to 25,000 square feet, and a gross floor area of less than or equal to 25,000 square feet.

Note 2:

To be eligible, properties must be located within the geographic areas identified as Downtown and Central Waterfront, Avenues or Centres on the map titled: Designated Areas for the City of Toronto Small Business Subclass.

At any time after the Program Administrator determines that a property should be included in the small business subclass, the Program Administrator my conduct an audit to verify that the property continues to meet the eligibility criteria. Properties that experience changes during the year may become ineligible. This may occur due to changes in assessment value, usage, tax classification or other changes affecting eligibility.