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Page 3 <br />By -law Number 19 -2011 (cont'd) <br />PROPERTY CLASSES <br />Commercial <br />Occupied <br />Excess Land <br />Vacant Lands (at Parking Rate) <br />Commercial Farmland Class 1 <br />Parking Lots <br />Office Building <br />Occupied <br />Excess Land <br />Industrial <br />Occupied <br />Excess Land <br />Vacant Land <br />Industrial Farmland Class 1 <br />Large Industrial <br />Occupied <br />Excess Land <br />Residential <br />Residential - Farmland 1 <br />Multi- Residential <br />Farm <br />Managed Forest <br />Pipeline <br />2011 COUNTY TAX RATES <br />0.00454914 <br />0.00318440 <br />0.00236277 <br />0.00105105 <br />0.00236277 <br />0.00489370 <br />0.00342559 <br />0.00816668 <br />0.00530834 <br />0.00530834 <br />0.00105105 <br />0.01129293 <br />0.00734040 <br />0.00420421 <br />0.00105105 <br />0.00822091 <br />0.00105105 <br />0.00105105 <br />0.00547809 <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 industrial <br />property class is 35 %; <br />c) The first subclass of farmland awaiting development in <br />the residential /farm property class is 75 %; <br />d) The first subclass of farmland awaiting development in <br />all other classes except residential /farm property class <br />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 for <br />the municipality for the first subclass for the residential /farm <br />property class, <br />Ratio of Tax Rates means the amount equal to the tax rate <br />for the property class divided by the tax rate for the <br />residential /farm property class, <br />