Laserfiche WebLink
THE CORPORATION OF THE COUNTY OF ESSEX <br /> BY-LAW # 43-2012 <br /> A BY-LAW TO ADOPT OPTIONAL TOOLS FOR <br /> THE PURPOSES OF ADMINISTERING LIMITS <br /> FOR THE COMMERCIAL, INDUSTRIAL AND <br /> MULTI-RESIDENTIAL PROPERTY CLASSES <br /> FOR 2012 <br /> WHEREAS the Corporation of the County of Essex (hereinafter <br /> referred to as "The Municipality") may, in accordance with section <br /> 329.1 of the Municipal Act, 2001, S.O. 2001 c.25, as amended <br /> (hereinafter referred to as "The Act') modify the provisions and limits <br /> set out in section 329 of The Act, with respect to the calculation of <br /> taxes for municipal and school purposes payable in respect of property <br /> in the commercial, industrial and multi--residential property class; <br /> AND WHEREAS the municipality must similarly modify the provisions <br /> and limits set out in section 352 of The Act with respect to the "tenant <br /> cap" calculations; <br /> AND WHEREAS this by-law shall only apply to properties in any of the <br /> Commercial, Industrial and Multi-Residential property classes to which <br /> Part IX of The Act applies; <br /> AND WHEREAS for the purposes of this by-law the commercial <br /> classes shall be considered a single property class and the industrial <br /> classes shall be deemed to be a single property class; <br /> AND WHEREAS "uncapped taxes" means, the taxes for municipal and <br /> school purposes that would be levied for the taxation year but for the <br /> application of Part IX of The Act. <br /> AND WHEREAS The Council may pass a by-law to apply any one or <br /> any combination of the following options: <br /> a) Increase the annual cap from 5% of last year's capped taxes <br /> up to a maximum of 10% of last year's capped taxes; and/or <br /> b) Set an upper limit on annual increases at the greater of the <br /> amount calculated under (a) and up to 5% of the previous <br /> year's annualized CVA tax; and/or <br /> c) Up to a maximum $250 threshold may be set for increasing <br /> properties, decreasing properties or both; and/or <br />