THE CORPORATION OF THE TOWNSHIP OF STRONG

BY-LAW #2003 – 1468

 

BEING a by-law to Establish Bands of Assessment and Graduated

Tax Rates for the Commercial and Industrial Property Classes

for the Year 2003

 

 

WHEREAS the Council of the Corporation of the Township of Strong may, by by-law establish two or three bands of assessment of property for the purposes of facilitating graduated tax rates for each property pursuant to Section 314 of the Municipal Act, 2001 as amended (hereinafter referred to as the ACT)

 

AND WHEREAS the property classes subject to graduated tax rates are the Commercial property class and the Industrial property tax class prescribed under the Assessment Act RSO 1990 c.A.31, as amended;

 

AND WHEREAS the Council of the Corporation of the Township of Strong hereby enacts as follows:

 

1.                  This by-law applies to the Commercial Property Class and the Industrial Property Class prescribed under the Assessment Act, RSO 1990 c.A.31, as amended.

2.                  For the Commercial Property Class, the following shall be the applicable bands of Assessment:

a)            The Township of Strong            Commercial Band One = $400,000

b)            The Township of Strong            Commercial Band Two = up to $1,500,000

c)            The Township of Strong            Commercial Band Three = over $1,500,000

3.                  Notwithstanding the tax ratio established pursuant to By-law #2003 – 1464  for the taxation year 2003, the following shall be the tax rate percentage of each band.

a)            The Township of Strong            Commercial Band One will be at 90%

b)            The Township of Strong            Commercial Band Two will be at 95%

c)            The Township of Strong            Commercial Band Three will be at 100%

4.                  Notwithstanding the tax ratio established pursuant to By-law #2003-1464 for the taxation year 2003, the following shall be the Tax Rates for each band:

a)            The Township of Strong            Commercial Band One will be .010962

b)            The Township of Strong            Commercial Band Two will be .011571

c)            The Township of Strong            Commercial Band Three will be .012180

5.                  For the Industrial Property Class, the following shall be the applicable bands of Assessment:

a)            The Township of Strong            Industrial Band One – up to $200,000 of Assessment

b)            The Township of Strong            Industrial Band Two – over $200,000 of Assessment

6.                  Notwithstanding the Tax Ratio established pursuant to By-law #2003 1464 for the taxation year 2003 the following shall be the tax rate percentage of each band:

a)            The Township of Strong            Industrial Band One will be at 65%

b)            The Township of Strong            Industrial Band Two will be at 100%

7.                  Notwithstanding the tax ratio established pursuant to by-law 2003 – 1464 for the taxation year 2003, the following shall be the tax rates for each band:

a)            The Township of Strong            Industrial Band One will be .008218

b)            The Township of Strong            Industrial Band Two will be .012642

 

READ A FIRST TIME THIS 25TH DAY OF MARCH 2003

 

READ A SECOND TIME THIS  8TH DAY OF APRIL 2003

 

READ A THIRD TIME AND FINALLY PASSED ON A MOTION BY  John Newstead

 

SECONDED BY                   Merlyn Snow                           THIS 27TH  DAY OF MAY 2003

 

 

 

 

Diana Georgie, Clerk                                                    Stephen R. Rawn, Reeve

 

 

CERTIFIED to be a true copy

of by-law #2003 – 1468 enacted

in open council this 27th of May 2003