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M <br />Page 2 <br />By -law 04 -2004 (cont'd) <br />Tax relief granted pursuant to this by -law shall be in the form of a cancellation of the annual <br />eligible amount provided that: <br />a) such owner or the spouse of such owner, or both, legally occupy or occupies the <br />property in respect of which real property taxes are imposed, as his, her or their <br />principle residence on a continuous basis, in which case such property is hereinafter <br />referred to as the "eligible property "; <br />b) such owner or the spouse of such owner or both have been assessed as the owner of <br />the eligible property for a period of not less than one year immediately preceding <br />the date of application for cancellation, and; <br />c) such owner or the spouse of such owner or both is an eligible person as of the date <br />of eligibility; <br />d) all tax arrears including penalties and interest are paid in full prior to the approval <br />of an application for cancellation; <br />e) for properties which are jointly held or co -owned by persons other than spouses, <br />both or all co- owners must qualify under the eligibility criteria; <br />4. Annual eligible amounts shall be cancelled until the happening of any one of the following, <br />a) the eligible property is sold or transferred, or; <br />b) both the owner and the spouse of the owner cease to be eligible persons, whether by <br />death or otherwise, or; <br />c) any one of the owners referred to in 2(e) ceases to become an eligible owner, or; <br />d) no application for cancellation is submitted by the date of eligibility in a succeeding <br />year or the Treasurer determines, upon review of such application, that neither the <br />owner nor the spouse of the owner continues to be an eligible person or the <br />property is no longer an eligible property, or; <br />e) the balance of the property tax, being the portion not eligible for cancellation, is not <br />paid in full by December 31 of the current taxation year. <br />All applications for tax relief must be in writing on a form prescribed by the Corporation for <br />such purpose and must be submitted to the Corporation on or before the first day of <br />September in the year for which the application applies. Applications must include <br />documentation in support thereof to establish that the applicant is an eligible person and that <br />the property with respect to which the application is made is eligible property. <br />6. By -law # 17 -2001 is hereby repealed. <br />7. This by -law shall come into force and effect on the 18` day of February 2004. <br />c <br />� 4MOND, c' MICHAEL WARDEN <br />l reading — February 18` 2004 <br />2 reading — February 18` 2004 <br />3r reading — February 18` 2004 <br />' 1 te R - tir`'C► �-� <br />MARY S. ENNAN, CLERK <br />