40-2013 Limitations of Tax Decreases for 2013

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The Corporation of the County of Essex By-Law No. 40-2013 Being a By-�law to Pro,vide for the Urnitations, of Tax Decreases for, 2 13 in the M u It�i-Residentia 11, Cornmerciall and Industrial Property Classes WHEREAS part IX olf the Mu icip, al' Act, 2001, S.O. 2001 c.25 as amended, establishes limitation on taxes for certain property classes; AND WHEREAS Section 330 of the Municipal Act, 2'001, S,01 20011, c.25 as amended, provides thiat the Council an upper-,tier municipality may pass a by-law to establish percentages by which tax decreases are limited for 2012 in respect of properties in the multi- residential, commercial and industrial' property classes in order to recover revenues foregone as a result of the limitation of taxes to other properties in those property classes; Now therefore the Council of the Corporation of the County of Essex hereby enacts as follows: 1. THAT the cut-off date for adjustments to the 20,12 Annualized Taxes was, April 12, 2013. 2. THAT the percentages for 2013 under Section 330 of the Municipal Act, 2001, S�0. 2001, c,,2. as amended, fir the County of Essex shall be as indicated in the attaiched Schedule 'A , 3. THAT the Treasurer of each lower-tier miulnicipiallity in the Colu:nty of Essex shall be advised by the upper-tier of the said date established in Section 1 and the 2013 tax decrease phase-in percentages by class established in Section 2. '4. THAT the County of Essex shall provide adjustmients between municipalities, in the amounts established on Schedule V. 5. THAT if the Count y of Essex experiences a shortfall as a resullt of the application of Section 4, the shortfall shall be shared by the County of Essex and the lower-tier miunicipalities, in the same proportion as the municipalities share in the taxes levied on the property class for miunicipial purposes.