30-2011 Tax Capping By-law 2011 - Laserfiche WebLink

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THE CORPORATION OF THE COUNTY OF ESSEX BY -LAW NUMBER 30 -2011 BEING A BY -LAW TO PROVIDE FOR THE LIMITATION OF TAX DECREASES FOR 2011 IN THE MULTI - RESIDENTIAL, COMMERCIAL AND INDUSTRIAL PROPERTY CLASSES WHEREAS Part 7X of the Municipal Act, 2001, S.D. 2001, c.25 as amended, establishes limitation on taxes for certain property classes; AND WHEREAS Section 330 of the Municipal Act, 2001, S.Q. 2001, c.25 as amended, provides that the Council of an upper --tier municipality may pass a by -law to establish percentages by which tax decreases are limited for 2010 in respect of properties in the multi - residential, commercial and industrial property classes in order to recover revenues foregone as a result of the limitation of taxes to other properties in those property classes; NOW THEREFORE, the Council of the Corporation of the County of Essex hereby enacts as follows: 1. THAT the cut -off date for adjustments to the 2010 Annualized Taxes was April 8 2011. 2. THAT the percentages for 2011 under Section 330 of the Municipal Act, 2001, S.O. 2001, c.25 as amended, for the County of Essex shall be as indicated in the attached Schedule 'A'. 3. THAT the Treasurer of each lower -tier municipality in the County of Essex shall be advised by the upper - tier of the said date established in Section 1 and the 2011 tax decrease phase -in percentages by class established in Section 2. 4. THAT the County of Essex shall provide adjustments between municipalities, in the amounts established on Schedule 'B', so that no lower -tier municipality has a surplus or shortfall as a result of the application of this by --law.