City council supports tax exemption for Aga Khan Museum 2015-11-10
More than $330K in taxes to be forfeited annually
By Ben Rappaport | Posted: Nov 10 2015 11:47 am
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City council has confirmed its support for a property tax exemption for the Aga Khan Museum and Ismaili Centre, a museum of Islamic and Iranian art located in the Don Mills area.
The council voted 34-1 on Tuesday to recommend providing a property tax exemption for the museum.
Almost all of the council members expressed admiration of the Aga Khan Museum and believed that it was worthy of the tax-exempt status that it had requested.
“There is no property, there is no other project that is more worthwhile in terms of supporting an exempt status than this particular project,” councilor Denzil Minnan-Wong said.
The lone opponent of the decision was councilor John Campbell, who said the majority of museums in Toronto do not have a tax-exempt status.
Granted its request, the Aga Khan museum will avoid paying $331,700 annually in property taxes.