08-2005 Set Tax Ratios for County and all Local Essex Municipalities

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THE CORPORATION OF THE COUNTY OF ESSEX BY-LAW NUMBER 08-2005 A BY-LAW TO SET TAX RATIOS FOR THE CORPORA TION OF THE COUNTY OF ESSEX AND ALL THE LOCAL MUNICIPALITIES WITHIN THE BOUNDARIES OF THE COUNTY OF ESSEX FOR mE YEAR 2005 WHEREAS it is necessary for the Council of the Corporation of the County of Essex, pursuant to Section 308 ofthe Municipal Act, 2001, S.O. 2001, c.25 as amended, to establish tax ratios for 2005 for the Corporation of the County of Essex and the lower tier municipalities within the boundaries of the County of Essex; AND WHEREAS the tax ratios determine the relative amount of taxation to be borne by each property class; AND WHEREAS mandatory property classes have been prescribed by the Minister of Finance under Section 7 oftheAssessmentAct, R.S.O. 1990, c. A.31, as amended; AND WHEREAS Section 2 (3.1) of The Assessment Act, R.S.O. 1990, c. A. 31, as amended, allows optional property classes, as prescribed by the Minister of Finance, to be adopted; AND WHEREAS the Council of the County of Essex has adopted optional property classes as set out in By-law Number 55-2004; NOW mEREFORE the Council of the Corporation of the County of Essex hereby enacts as follows: 1. For the taxation year 2005, the tax ratio for property in: a) the residentiaVfarm property class is 1.0000; b) the multi-residential property class is 1.9554; c) the commercial property class is 1.0697; d) the parking lots/vacant land property class is 0.5620; e) the shopping centre property class is 1.1654; f) the office building property class is 1.1640; g) the industrial property class is 1.9425; h) the large industrial property class is 2.6861; i) the farmlands property class is 0.2500; j) the pipelines property class is 1.3030; k) the managed forest property class is 0.2500. .