Property tax relief offered for 45 live music venues impacted by the COVID-19 pandemic
Toronto’s live music venues contribute greatly to the city’s cultural, social and economic fabric. These venues require critical support in the face of ongoing pressures that have been intensified by the COVID-19 pandemic. City Council expanded the Creative Co-Location Facilities Property Tax Subclass to provide property tax relief for live music venues. As a result of this decision, properties that meet specific criteria are eligible to receive property tax relief of up to 50 per cent for the qualifying areas of the building. Immediately following this expansion in May, the City began accepting applications from live music venue operators. The deadline for applications was June 19. This relief measure will be implemented through the final supplementary property tax notices that will be issued in the fall. City staff will analyze the impact of this cost-saving measure for live music venues and report to Council in 2021. This measure is intended to remain in place beyond this year to support the long-term viability of Toronto’s live music sector.