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By-Law Number 27-2OI7 <br />Page 2 <br />a <br />a <br />a <br />a <br />Increase the annual cap from 5o/o of last year's capped taxes up to a <br />maximum of I0o/o of last year's capped taxes; and/or <br />Set an upper limit on annual increases at the greater of the amount <br />calculated under (a) and up to LOo/o of the previous year's annualized CVA <br />tax; and/or <br />Up to a maximum $500 threshold may be set for increasing properties, <br />decreasing properties or both; and/or <br />Exempt from the application of Part IX of The Act a property which meets <br />any of the following conditions: <br />a) The taxes for the property in the previous year were equal to its <br />uncapped taxes for that year; or <br />b) As a result of Part IX of The Act, the taxes for the property in the <br />previous year were lower than the property's uncapped taxes for <br />that year, but in the current year, if Part IX of The Act applied, <br />the property's taxes would be equal to its uncapped taxes, or a <br />tax decrease for the property would be limited; or <br />c) A tax decrease for the property in the previous year was limited <br />under Part IX of The Act, but in the current year, if part IX of <br />The Act applied, the property's taxes could be equal to its <br />uncapped taxes, or a tax increase for the property would be <br />limited; <br />End the application of Part IX of The Act for the current and all <br />subsequent years, for a protected property tax class if, in the previous <br />taxation year in the municipality, the taxes within any of the <br />commercial, industrial, or multi-residential property classes were equal <br />to the uncapped taxes for the property for the taxation year, as shown <br />on the final tax bill for the taxation year for the property; <br />Phase-out the application of Part IX of the Act for all protected <br />property tax class in accordance with subsections (3) to (7) of Ontario <br />Regulation L02/16 of rhe Act, if, in the previous taxation year in the <br />municipality, the taxes within any of the commercial, industrial or <br />multi-residential property classes were equal to or greater than 50 <br />percent of the uncapped taxes for the property for the taxation year, <br />as shown on the final tax bill for the taxation year for the property; <br />Limit Capping protection to only reassessment related changes prior to <br />2017; <br />a <br />a <br />o