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11-2005 Adopt Optional Tools for the Purposes of Administering Limits for the Commercial, Industrial and Multi-Residential Property Classes
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11-2005 Adopt Optional Tools for the Purposes of Administering Limits for the Commercial, Industrial and Multi-Residential Property Classes
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12/24/2012 11:58:46 AM
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3/17/2005 1:53:04 PM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
3/16/2005
C - Council, Boards and By-laws - Department
Council Services
C - Council, Boards and By-laws - Description
11-2005 Adopt Optional Tools for the Purposes of Administering Limits for the Commercial, Industrial and Multi-Residential Property Classes
C - Council, Boards and By-laws - Bylaw No
11-2005
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<br />CORPORA TION OF THE COUNTY OF ESSEX <br /> <br />BY-LAW # 11-2005 <br /> <br />A BY-LAW TO ADOPT OPTIONAL TOOLS FOR THE <br />PURPOSES OF ADMINISTERING LIMITS FOR THE <br />COMMERCIAL, INDUSTRIAL AND MULTI-RESIDENTIAL <br />PROPERTY CLASSES <br /> <br />WHEREAS the Corporation of the County of Essex (hereinafter referred to as "The <br />Municipality") may, in accordance with section 329.1 of the Municipal Act, 2001, S.O. <br />2001 c.25, as amended (hereinafter referred to as "The Act") modify the provisions and <br />limits set out in section 329 of The Act, with respect to the calculation of taxes for <br />municipal and school purposes payable in respect of property in the commercial, <br />industrial and multi-residential property class; <br /> <br />AND WHEREAS the municipality must similarly modify the provisions and limits set <br />out in section 332 of The Act with respect to the ''tenant cap" calculations; <br /> <br />AND WHEREAS this by-law shall only apply to properties in any of the Commercial, <br />Industrial and Multi-Residential property classes to which Part IX of The Act applies; <br /> <br />AND WHEREAS for the purposes of this by-law the commercial classes shall be <br />considered a single property class and the industrial classes shall be deemed to be a single <br />property class; <br /> <br />AND WHEREAS "uncapped taxes" means, the taxes for municipal and school purposes <br />that would be levied for the taxation year but for the application of Part IX of The Act. <br /> <br />AND WHEREAS The Council may pass a by-law to apply any one or any combination <br />of the following options: <br /> <br />a) Increase the annual cap from 5% of last year's capped taxes up to a maximum <br />of 10% of last year's capped taxes; and/or <br />b) Set an upper limit on annual increases at the greater of the amount calculated <br />under (a) and up to 5% ofthe previous year's annualized CV A tax; and/or <br />c) Up to a maximum $250 threshold may be set for increasing properties, <br />decreasing properties or both; <br /> <br />AND WHEREAS a by-law passed to adopt the provisions of subsection 329.1 <br />paragraphs 1 and 2 of The Act provides that such provisions shall also apply to section <br />332 of The Act with respect to the "tenant cap" calculations; <br />
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