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Page 3 <br />By -law Number 23 -20.0 (cont'd) <br />PROPERTY CLASSES 2010 COUNTY TAX RATES <br />Commercial <br />Occupied <br />0.00448595 <br />Excess Land <br />0.00314017 <br />Vacant Lands (at Parking Rate) <br />0.00232995 <br />Commercial Farmland Class 1 <br />0.00103645 <br />Parking Lots <br />0.00232995 <br />Office Building <br />Occupied <br />0.00482572 <br />Excess Land <br />0.00337801 <br />Industrial <br />Occupied <br />0.00805324 <br />Excess Land <br />0.00523460 <br />Vacant Land <br />0.00523460 <br />Industrial Farmland Class 1 <br />0.00103645 <br />Large Industrial <br />Occupied <br />0.01113606 <br />Excess Land <br />0.00723845 <br />Residential <br />0.00414581 <br />Residential - Farmland 1 <br />0.00103645 <br />Multi- Residential <br />0.00810672 <br />Farm <br />0.00103645 <br />Managed Forest <br />0.00103645 <br />Pipeline <br />0.00540199 <br />5. THAT the tax rate reductions for: <br />a) The vacant and excess land subclasses in the <br />commercial property class is 30 %; <br />b) The vacant and excess land subclasses in the <br />industrial property class is 35 %; <br />c) The first subclass of farmland awaiting development <br />in the residential /farm property class is 75 %; <br />d) The first subclass of farmland awaiting development <br />in all other classes except residential /farm property <br />class be calculated as follows: <br />Reduction = 100 - [100 - Reduction (Res /Farm)] /Ratio of Tax Rates <br />Where; <br />Reduction (Res /Farm) means the percentage reduction <br />for the municipality for the first subclass for the <br />residential /farm property class, <br />Ratio of Tax Rates means the amount equal to the tax <br />rate for the property class divided by the tax rate for the <br />residential /farm property class, <br />