THE CORPORATION OF THE
BY – LAW #2008 – 1571
WHEREAS Section 312,
314, 315 and 474 of the Municipal Act, Chapter 25, S.O. 2001 as amended,
provides that the Council of a Local Municipality shall adopt the estimates and
set the tax rates for the year and pass a by-law to levy a tax rate on the
assessment in each property class;
WHEREAS the 2008
Estimates for Local Government Purposes is $1,493,108.56
the 2008
Estimates for School Board Purposes is
$ 604,622.76 Total $2,097,731.32
NOW THEREFORE THE COUNCIL OF THE
CORPORATION OF THE
1.
Final Tax Levy for Commercial Band 1 with assessment
up to $400,000 (Assessment 3,075,024)
General Government Rate .00915734
School Boards .00827336 Total .0174307
2.
Final Tax Levy for Commercial Band 2 with assessment
up to 1,500,000 (Assessment 1,744,500)
General Government Rate .00966608 School
Boards .00873299 Total
.01839907
3.
Final Tax Levy for Commercial Band 3with assessment over
1,500,000 (Assessment 6,007,000)
General Government Rate .01017482 School Boards .00919262 Total .01936744
4.
Final Tax Levy for Commercial Vacant with assessment
Excess (62,928)
General Government Rate .00685166 School Boards .00619161 Total .01304327
5.
Final Tax Levy for Industrial Band 1 with assessment
up to $200,000 (Assessment 1,046,130)
General Government Rate .00603345 School
Boards
.00760712 Total
.01364057
6.
Final Tax Levy for Industrial Band 2 with assessment
over $200,000 (Assessment – 3,576,715)
General Government Rate .01096990 School
Boards
.01383112 Total .02480102
7.
Final Tax Levy for real property in the Industrial
Vacant/Excess Class (Assessment 122,606)
General Government Rate
.00636225 School Boards
.00802168 Total .01438393
8.
Final Tax Levy for real property in the
Multi-Residential Class (Assessment – 378,000)
General Government Rate .00889825 School Boards .00264 Total .01153825
General
Government Rate .00889825 School Boards .00264 Total .01153825
10.
Final Tax Rate for Real Property in the Pipeline
Class (Assessment – 9,513,000)
General Government Rate .00726453 School Boards .00748353 Total .01474806
11.
Final Tax Rate for Farmlands (1,285,700) and
Managed
General Government Rate .00222456 School Boards .000660 Total .00288456
12.
Final Tax Rate for Real Property in the Railways
Class (122.01 acres)
Ø That every owner
of land shall be taxed according to the tax rates in this by-law with a minimum
total bill of $50.00 and such tax bill shall become due and payable as follows:
Capped Classes of property
tax bills will have two installments with due dates as: July 30th and Sep 29th
Uncapped Classes of property
bills will have two installments with due dates as July 30th and
Sept.29th
Ø All taxes in
default on the 1st day past the end of the month will be charged a
penalty of 1.25% per month that the default continues until December 31st
2008
Ø Penalties and
Interest added on all taxes shall be paid before tax amounts will be paid.
Ø The Collector may
mail or cause to be mailed to the address indicated on the last revised
assessment roll, a printed notice specifying the amount of taxes payable and
all will receive a Disclosure statement.
Ø The Taxes are
payable at the
Ø This By-law
replaces By-law #2007 - 1544
READ A FIRST AND SECOND TIME THIS 13th DAY OF
MAY 2008
READ A THIRD TIME AND FINALLY PASSED ON A
MOTION BY John
Newstead
AND SECONDED BY Chris Ellis THIS
13th DAY OF MAY 2008
_______________________________________________________________________________________