THE
CORPORATION OF THE TOWNSHIP OF STRONG
BY - LAW #2006
- 1531
BEING a by-law
to adopt a capping of 10% for 2006
To adjust the
2005 capping of 5%
WHEREAS
An Upper Tier or a Single Tier Municipality under Section 327 to Section 331 of
the Municipal Act may adopt policies for Part IX of the Municipal Act, 2001;
WHEREAS the provision for capping allows
municipalities to apply a cap to taxes charged to designated properties for the
year 2006. The percentage of this cap
has been set at 10% for 2006, and is an increase of 5% for rate of 5% used in
2005 to limit the tax increases and these will be totally offset by
restrictions on tax decreases and be revenue neutral for 2006. The CVA Tax Threshold increasers and decreasers
of $250 shall be used in the capped
calculation.
WHEREAS
all adjustments required as a result of capping provisions shall be done
through taxes receivable, and should not alter overall reporting of Revenue
from Taxation.
WHEREAS
all properties that have been levied in 2006 that are above the 10% shall be
offset by revenue neutral analysis and 0% Clawback.
WHEREAS
all New Construction based on comparable properties or New to Class properties
shall have set a floor of 80% of taxation.
WHEREAS any Penalties for late payments that were charged
against properties experiencing tax increases, it will be necessary to
re-calculate the penalty amount as a result of the application of the 10%
Capping for 2006.
NOW
THEREFORE the Council of the Corporation of the Township of Strong does HEREBY
ENACT THE FOLLOWING:
1. Part
IX of Municipal Act, 2001 applies in all or part of 2006 with respect to
property in the
Township of Strong in the Commercial
Property Class, the Industrial Property Class and the Multi-
Residential property Class.
2. By-law 99 – 1386 is hereby repealed
READ
A FIRST AND SECOND TIME THIS 13TH DAY OF JUNE 2006
READ
A THIRD TIME AND FINALLY PASSED ON A MOTION BY JOHN NEWSTEAD
AND
SECONDED BY SALLY HARPER THIS 13TH
DAY OF JUNE 2006
______________________________________________________________________________
Diana
Georgie, Clerk Stephen
R. Rawn, Mayor
CERTIFIED to be a true copy
Of By-law 2006 – 1531
enacted
In Open Council this 13th
day
Of June 2006