Whereas the Region of York sets tax rate classifications for lower tier municipalities;
Whereas currently there is no distinction between different types of multi-residential units;
Whereas to increase the diversity of housing in Richmond Hill and to allow for more affordable options for our residents it would be beneficial to incentivize purpose-built rental buildings;
Whereas in order to lower property taxes on purpose-built rental buildings it is necessary to have a separate class of property.
Therefore Be It Resolved that the City of Richmond Hill Council requests the Region of York to create a separate property tax classification for purpose-built rental buildings distinct from other types of multi-residential dwellings,
And Therefore Be It Resolved that this resolution be forwarded to the Region of York.