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) <br />By-Law Number 11-2018 <br />Page 4 <br />Vacant Land 0.0083r874 <br />Pipeline 0.00620821 <br />Landfill 0.0049889s <br />Property Classes County Tax Rates <br />5) THAT the tax rate reductions for: <br />a) The vacant and excess land subclasses in the commercial <br />property class is 30olo;b) The vacant and excess land subclasses in the industrial property <br />class is 35%;c) The first subclass of farmland awaiting development in the <br />residential/farm property class is 75o/o;d) The first subclass of farmland awaiting development in all other <br />classes is calculated as: <br />Percentage Reduction = lOO-[(lOO-R)/T] <br />R is the percentage reduction for the municipality for the first <br />subclass for the residential property class; and <br />T is the amount equal to the tax rate for the property class <br />divided by the tax rate for the residential property class, <br />e) The second subclass of farmland awaiting development for all <br />property classes is 75o/o. <br />6) THAT the distribution of the amount to be raised by tax rates for <br />County purposes, in the amount of g 95,t69,627 as set out in <br />Schedule 7 attached hereto and forming part of this by-law, be <br />adopted. <br />7) THAT the total to be raised by the local municipalities for 2O1B County <br />purposes, as set out ín Schedule B attached hereto and forming part of <br />this by-law, be adopted. <br />B) THAT pursuant to Subsection 2t of Section 311 of the Municipal Act, <br />200L, S.O. 200t, c.25, as amended, the amounts raised by the local <br />municipalities in accordance with Schedule B shall be paid to the