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<br />CORPORATION OF THE COUNTY OF ESSEX <br /> <br />BY-LAW # 34-2009 <br /> <br />A BY-LAW TO ADOPT OPTIONAL TOOLS FOR THE <br />PURPOSES OF ADMINISTERING LIMITS FOR THE <br />COMMERCIAL, INDUSTRIAL AND MULTI-RESIDENTIAL <br />PROPERTY CLASSES FOR 2009 <br /> <br />WHEREAS the Corporation of the County of Essex (hereinafter referred to as "The <br />Municipality") may, in accordance with section 329.1 of the Municipal Act, 2001, S.O. <br />2001 c.25, as amended (hereinafter referred to as "The Act") modify the provisions and <br />limits set out in section 329 of The Act, with respect to the calculation of taxes for <br />municipal and school purposes payable in respect of property in the commercial, <br />industrial and multi-residential property class; <br /> <br />AND WHEREAS the municipality must similarly modify the provisions and limits set <br />out in section 352 of The Act with respect to the "tenant cap" calculations; <br /> <br />AND WHEREAS this by-law shall only apply to properties in any of the Commercial, <br />Industrial and Multi-Residential property classes to which Part IX of The Act applies; <br /> <br />AND WHEREAS for the purposes of this by-law the commercial classes shall be <br />considered a single property class and the industrial classes shall be deemed to be a single <br />property class; <br /> <br />AND WHEREAS "uncapped taxes" means, the taxes for municipal and school purposes <br />that would be levied for the taxation year but for the application of Part IX of The Act. <br /> <br />AND WHEREAS The Council may pass a by-law to apply anyone or any combination <br />of the following options: <br /> <br />a) Increase the annual cap from 5% oflast year's capped taxes up to a maximum <br />of 10% oflast year's capped taxes; and/or <br />b) Set an upper limit on annual increases at the greater of the amOlmt calculated <br />under (a) and up to 5% of the previous year's annualized CV A tax; and/or <br />c) Up to a maximum $250 threshold may be set for increasing properties, <br />decreasing properties or both; and/or <br />d) Exempt from the application of Part IX of The Act a property which meets any <br />of the following conditions: <br />(i) The taxes for the property in the previous year were equal to its <br />uncapped taxes for that year; or <br />