15-2007 - Establish 2007 tax ratios for County of Essex and All Local Municipalities

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THE CORPORATION OF THE COUNTY OF ESSEX BY -LAW NUMBER 15 -2007 A BY -LAW TO ESTABLISH TAX RATIOS FOR THE CORPORATION OF THE COUNTY OF ESSEX AND ALL THE LOCAL MUNICIPALITIES WITHIN THE BOUNDARIES OF THE COUNTY OF ESSEX FOR THE YEAR 2007 WHEREAS it is necessary for the Council of the Corporation of the County of Essex, pursuant to Section 308 of the Municipal Act, 2001, S.O.2001, c.25 as amended, to establish tax ratios for the Corporation of the County of Essex and the lower tier municipalities within the boundaries of the County of Essex for the 2007 taxation year; 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 of the Assessment Act, R.S.Q. 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 Corporation of the County of Essex has adopted optional property classes, as set out in By -law No. 14-2007; NOW THEREFORE the Council of the Corporation of the County of Essex hereby enacts as follows; i . For the taxation year 2007, the tax ratio for property in: a) the residential 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; l:) 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 farm property class is 0.2500• j) the pipelines property class is 1.3030; k) the managed forests property class is 0.2500.