Laserfiche WebLink
TA r A Niel:& &Q2 0 to] 0 r-11 M •101 "10 LO <br />• a <br />A <br />NHEREAS the Corporation of the County of Essex (hereinafter <br />- eferred to as "The Municipality") may, in accordance with section <br />329.1 of the Municipal Act, 2001, S.O. 2001 c.25, as amended <br />"hereinafter referred to as "The Act's modify the provisions and limits <br />;et out in section 329 of The Act, with respect to the calculation of <br />:axes for municipal and school purposes payable in respect of property <br />n the commercial, industrial and multi-residential property class; <br />,ND WHEREAS the municipality must similarly modify the provisions <br />nd limits set out in section 352 of The Act with respect to the "tenant <br />ap" calculations; <br />►ND WHEREAS this by-law shall only apply to properties in any of the <br />:ommercial, Industrial and Multi-Residential property classes to which <br />art IX of The Act applies; <br />►ND WHEREAS for the purposes of this by-law the commercial <br />lasses shall be considered a single property class and the industrial <br />lasses shall be deemed to be a single property class; <br />ND WHEREAS ""uncapped taxes means, the taxes for municipal and <br />zhool purposes that would be levied for the taxation year but for the <br />pplication of Part IX of The Act. <br />,ND WHEREAS The Council may pass a by-law to apply any one or <br />ny combination of the following options: <br />a) Increase the annual cap from 5% of last years capped taxes <br />up to a maximum of 10% of last year's capped taxes; and/or <br />b) Set an upper limit on annual increases at the greater of the <br />amount calculated under (a) and up to 5% of the previous <br />year's annualized CVA tax; and/or <br />c) Up to a maximum $250 threshold may be set for increasing <br />properties, decreasing properties or both; and/or <br />