Ottawa's relatively generous tax policy for space-hogging downtown parking lots should be updated to encourage smarter development, an Ottawa city councillor believes.
"We want to invigorate, we want to revitalize downtown, and I think to do that we have to make sure we're sending the right tax signals to do that," Rideau-Rockcliffe Coun. Tobi Nussbaum said Wednesday.
Right now the typical commercial property owner in Ottawa pays 1.9 times the residential property tax rate, while owners of surface parking lots pay only 1.3 times the residential rate.
Nussbaum believes that creates an incentive for parking lot owners, who might otherwise put their property to better use.
Source: CBC News Ottawa