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Page 2 <br />By -law Number 11 -2001 (cont'd) <br />AND WHEREAS Sections 368.3 and 371.1 of the Municipal Act, Chapter M.45, <br />R.S.O. 1990, and amendments thereto, provide for the apportionment of payments in lieu <br />of taxes and taxation of certain railway and power utility lands, and for the number of <br />installments and due dates thereof and the rate of interest to be paid on the amount in <br />default if a local municipality fails to make a payment, or portion thereof; <br />AND WHEREAS tax rates for each property class will be calculated for County <br />purposes; <br />NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE <br />COUNTY OF ESSEX enacts as follows: <br />1. That the 2001 assessment per property class as detailed in Schedule 3 attached <br />hereto and forming part of this by -law, be adopted for purposes of calculating the <br />tax rates for County purposes and for determining the levy on all County <br />municipalities. <br />2. That the estimated share of payments in lieu of taxes and taxation for certain <br />railway and power utility lands as set out in Schedule 4 attached hereto and <br />forming part of this by -law be adopted. <br />3. That the amount to be raised by tax rates for County purposes in the amount <br />$41,885,002 as set out in Schedule 5 attached hereto and forming part of this by- <br />law be adopted. <br />4. That in accordance with the calculations set out in Schedule 6 attached hereto and <br />forming part of this by -law, the tax rates to be applied on the rateable assessment <br />in each local municipality for County purposes, shall be as follows: <br />PROPERTY CLASSES COUNTY TAX RATES <br />Commercial <br />Occupied <br />0.004040 <br />Excess Land <br />0.002828 <br />Vacant Lands (at Panting Rate) <br />0.002122 <br />Parking Lots <br />0.002122 <br />Shopping Centre <br />Occupied <br />0.004401 <br />Excess Land <br />0.003081 <br />Office Building <br />Occupied <br />0.0043% <br />Excess Land <br />0.003077 <br />Industrial <br />Occupied <br />0.007336 <br />Vacant Unit/Excess Land <br />0.004768 <br />Vacant Land <br />0.004768 <br />