28-2001TaxDecreaseMultiRes. - Laserfiche WebLink

Home Browse Search

THE CORPORATION OF THE COUNTY OF ESSEX BY-LAW NUMBER 28-2001 BEING A BY-LAW TO PROVIDE FOR THE LIMITATION OF TAX DECREASES FOR 2001 IN THE MULTI-RESIDENTIAL, COMMERCIAL AND INDUSTRIAL PROPERTY CLASSES WHEREAS the Continued Protection for Property Tax Payers Act, 2000 amended the Municipal Act, by adding Part XXII.3, governing the 5% limit on tax increases for 2001 and future years for the multi-residential, commercial and industrial property classes; AND WHEREAS Section 447.67(1) of the Municipal Act, as amended, provides that the Council of an upper-tier municipality may pass a by-law to establish a percentage by which tax decreases are limited for 2001 in respect of properties in the multi- residential, commercial and industrial property classes; NOW THEREFORE, the Council of the Corporation of the County of Essex hereby enacts as follows: 1) THAT the cut-offdate for adjustments to the 2001 Frozen Assessment Listing and Pre-Flip File be July 16th, 2001. 2) THAT the percentages for 2001 under Section 447.67(2) of the Municipal Act, as amended, for the County of Essex shall be as indicated in the attached Schedule 'A'. 3) THAT the Treasurer of each lower-tier municipality in the County of Essex shall be advised by the upper-tier of the said date established in Section 1 and the 2001 tax decrease phase-in percentages by class established in Section 2. 4) THAT the County of Essex shall provide adjustments between municipalities, in the amounts established on Schedule 'B', so that no lower-tier municipality has a surplus or shortfall as a result of the application of this by-law. 5) THAT if the County of Essex experiences a shortfall as a result of the application of Section 4, the shortfall shall be shared by the County of Essex and the lower-tier municipalities in the same proportion as the municipalities share in the taxes levied on the property class for municipal purposes. 6) THAT the taxes for municipal and school purposes for 2001 on a property subject to this by-law shall be determined in accordance with Section 447.65(8) of the Municipal Act, as amended. 7) This by-law shall come into force and take effect on the date of passing.