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Page 2 <br />By -law Number 27 -2004 (cont'd) <br />AND WHEREAS Sections 315 and 322 of the Municipal Act, 2001, S.O. <br />2001, c.25, as amended, provide for the apportionment of payments in lieu of taxes <br />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 <br />County purposes; <br />NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE <br />COUNTY OF ESSEX enacts as follows: <br />1. That the 2004 assessment per property class as detailed in Schedule 3 attached <br />hereto and forming part of this by -law, he adopted for purposes of calculating <br />the 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 />$53,344,462 as set out in Schedule 5 attached hereto and forming part of this <br />by -law be adopted. <br />4. That in accordance with the calculations set out in Schedule 6 attached hereto <br />and forming part of this by -law, the tax rates to be applied on the rateable <br />assessment in each local municipality for County purposes, shall be as follows: <br />PROPERTY CLASSES COUNTY TAX RATES <br />Commercial <br />Occupied <br />0.004037 <br />Excess Land <br />0.002826 <br />Vacant Lands (at Parung state) <br />0.002121 <br />Commercial Farmland Class 1 <br />0.000943 <br />Parking Lots <br />0.002121 <br />Shopping Centre <br />Occupied <br />0.004398 <br />Excess Land <br />0.003078 <br />Office Building <br />Occupied <br />0.004393 <br />Excess Land <br />0.003075 <br />Industrial <br />Occupied <br />0.007330 <br />Excess Land <br />0.004765 <br />Vacant Land <br />0.004765 <br />