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38-2006 adopt optional tax capping tools for new construction for 2006
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38-2006 adopt optional tax capping tools for new construction for 2006
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12/24/2012 10:29:14 AM
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3/16/2006 2:41:20 PM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
3/15/2006
C - Council, Boards and By-laws - Department
Finance
C - Council, Boards and By-laws - Description
38-2006 adopt optional tools for the purposes of administering limits for eligible properties within the meaning of section 331 (New Construction) for the commercial, industrial and multi-residential property classes
C - Council, Boards and By-laws - Bylaw No
38-2006
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By-law
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<br />CORPORA TION OF THE COUNTY OF ESSEX <br /> <br />BY-LA W # 38~2006 <br /> <br />A BY-LAW TO ADOPT OPTIONAL TOOLS FOR THE <br />PURPOSES OF ADMINISTERING LIMITS FOR ELIGIDLE <br />PROPERTIES WITHIN THE MEANING OF SECTION 331 (NEW <br />CONSTRUCTION) FOR THE COMMERCIAL, INDUSTRIAL AND <br />MULTI-RESIDENTIAL 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 331 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 classes; <br /> <br />AND WHEREAS the Council of The Municipality may pass a by-law to adopt the <br />provisions of Section 329.1 of The Act whereby a "floor" or minimum uncapped tax <br />percentage applies to eligible properties in one or more of the uncapped classes; <br /> <br />AND WHEREAS this by-law shall only apply to properties in the Commercial, <br />Industrial and Multi-Residential property classes to which Part IX of The Act applies; <br /> <br />AND WHEREAS in this by-law, "uncapped taxes" means, the taxes for municipal and <br />school purposes that would be levied for the taxation year but for the application of Part <br />IX of The Act; <br /> <br />AND WHEREAS the Council has reviewed the provisions of Section 329.1 of The Act <br />and hereby deems it necessary and appropliate to adopt optional tools for the purpose of <br />providing minimum amounts for properties subject to the provisions of Section 331 for <br />the Commercial, Industrial and Multi-Residential property classes: <br /> <br />NOW THEREFORE the Council of the Corporation of the County of Essex hereby <br />enacts as follows: <br /> <br />1. THAT paragraph 5 of Subsection 329.] (1) of The Act shaH apply to the <br />Commercial, Industrial and Multi-Residential property classes for 2006. <br /> <br />2. AND THAT for all properties that become eligible within the meaning of <br />subsection 331 (20) of The Act, the taxes for municipal and school purposes for <br />the year or portion of the year shall be the greater of, <br /> <br />a. The amount of the taxes determined for the property for 2006 under <br />subsection 33 I (2), and <br />
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