Tax Based on Assessed Value
Most businesses are taxes are based on the value of the property, as assessed by the Municipal Assessment Agency. The rate of business tax depends on the class of business.
- 12.0% (120.0 mils) Chartered Banks, Financial Institutions
- 6.6% (66.0 mils) Oil Companies Bulk Storage Facilities
- 5.4% (54.0 mils) Department Stores
- 4.4% (44.0 mils) Large Retail
- 4.0% (40.0 mils) Insurance Companies
- 3.40% (34.0 mils) Professional Operations
- 3.0% (30.0 mils) Communications, Private Schools
- 2.7% (27.0 mils) Grocery Stores,
- 1.675% (16.75 mils) General Commercial and Industrial – including:
Car Sales, Commercial Garages/Automotive & Parts Sales & Repair
Shops, Service Stations, Transportation Depots/Trucking Companies,
Transportation Terminals, Convenience Stores/Gas Bars, Drug Stores,
Dispensaries, Clothing Stores, Computer Sales, Electronic Repairs and
Electronics Sales, Jewellery Stores, Music Stores, Shoe Stores, Sporting
Goods/Equipment, Video Shops, Retail-Other, Hardware Stores, Building
Supplies, Furniture/Carpet Stores, Wholesalers, Warehouses, Monument
Sales, Construction Companies/Services, Daycare Services, Personal
Services, Bakeries, Barber Shops/Beauty Salons, Convenience Stores,
Custom Workshops/Repairs, Retail-Residential, Repairs/Commercial,
Recycling, Book Stores, Dry Goods/Fabric/Flower Shops, Photo Shops,
Fish Harvesting & Processing, Industrial, and All Other - 1.5% (15.0 mils) Hospitality – including: Bed & Breakfasts and Hospitality
Homes, Car Rentals, Hotels, Motels, Taxi Businesses, Restaurants,
Takeout Food Services, Taverns, and Places of Amusement - 0.4% (4.0 mils) Nursing Homes
Tax on Utilities
2.5% of gross revenue – All businesses subject to taxation under the Taxation of
Utilities & Cable Television Companies Act
No Fixed Place of Business
Where the real property tax is not applicable to a business because it has no
fixed place of business, the business tax shall be set at the minimum rate of 2.5%
of the gross revenue of the business as set forth in Section(s) 146 and 150 of the
City of Corner Brook Act, RSNL 1990 Chapter C-15.
Minimum Business Tax
The minimum business tax is $270.
Business Tax Inquiries
All questions regarding your tax bill can be directed to the Accounts Receivable department, phone: 637-1538, email: accountsrec@cornerbrook.com.
If you would like to set up payment plan options you can contact the City Collector, phone: 637-1568, email: collector@cornerbrook.com.
