2979 To provide for the adoption of Budgetary Estimates, Tax Rates and to further provide for penalty and interest in default of payment thereof for 2001THE CORPORATION OF THE TOWN OF TILLSONBURG
BY-LAW NO.. 2979
A BY-LAW TO PROVIDE FOR THE ADOPTION OF BUDGETARY
ESTIMATES, TAX RATES AND TO FURTHER PROVIDE FOR PENALTY AND
INTEREST IN DEFAULT OF PAYMENT THEREOF FOR 2001.
WHEREAS Section 367 of the Municipal Act, R.S.O. 1990, chapter M.45, as amended,
provides that the Council of a local municipality shall prepare and adopt estimates of all
sums required during the year for the purposes of the municipality,
WHEREAS Section 368 of the said Act provides that the Council of a local municipality
shall, after the adoption of estimates for the year, pass a by-law to levy a separate tax rate
on the assessment in each property class,
WHEREAS Sections 362 and 363 of the said Act require tax rates to be established in the
same proportion to tax ratios; and,
WHEREAS certain regulations require reductions in certain tax rates for certain classes
or subclasses of property.
Now therefore the Council of The Corporation of the Town of Tillsonburg enacts as
follows:
1) That the budget estimates setting out the revenues and expenditures as detailed on
Schedule "A" for the year 2001 as attached hereto and forming part of this by-law
be adopted.
2) That the tax rates hereby adopted for each class for the year 2001, excluding local
improvement rates or other special rates collected as taxes, shall be the tax rates as
listed on Schedule "B" attached hereto and forming part of this by-law and the tax
rate for each class shall be applied against the whole of the assessment for real
property for that particular class.
3) That every owner shall be taxed according to the tax
rates in this by-law. The taxes for a particular property shall be calculated by
applying the Current Value Assessment times the tax rates set out as adjusted by
the provisions of Bill 79, The Fairness for Property Taxpayers Act and further
adjusted by Bill 140, The Continued Protection for Taxpayers Act 2000. Such
taxes shall become due and payable in two installments as follows:
ALL PROPERTY CLASSES:
FIRST INSTALMENT Friday, September 28, 2001
SECOND INSTALMENT Friday, October 26, 2001
Notice of such taxes due shall be sent by first class mail to those persons shown as
liable for the payment of taxes.
4) That a charge as a penalty of 1 and 1/4 per cent on the amount of any outstanding
taxes levied in 2001 shall be made on the first day of default and on the first day of
each calendar month thereafter in which default continues until December 31,
2001, and any such additional amounts shall be levied and collected in the same
manner as if they had been originally imposed with and formed part of the taxes
levied under this by-law.
5) That interest of 1 and 1/4 per cent on the amount of any taxes due and unpaid after
December 31, 2001, shall be charged on the first day of each calendar month
thereafter in which default continues.
This by-law shall come into effect on the date of the final passing thereof.
READ a first, second and third time, passed, signed, sealed and numbered 2979 this 30th
day of July, 2001.
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Class
RESIDENTIAL & FARM
MULTI -RESIDENTIAL
COMMERCIAL
VACANT UNITS/EXCESS LAND
VACANT LAND
INDUSTRIAL
VACANT UNITS/EXCESS LAND
VACANT LAND
LARGE INDUSTRIAL
VACANT UNITS/EXCESS LAND
PIPELINES
FARMLAND
FARMLAND DEV PH 1
2001 - 2000 Rate Comparison By Body
2001 2000 % 2001 2000 % 2001 2000 % 2001 2000
i�onn��l (�cnnr.�l !1./_\ r^11nhi ( P%i inhi Qgaujarc Qavuarc (+/-� ;:Hijratinn Frluratinn
0.00777823
0.00772959
0.63%
0.00426601
0.00416629
2.39%
0.00040133
0.00039485
1.64%
0.00373000
0.00414000 -9
0.02131235
0.02194585
-2.89%
0.01168886
0.01182893
-1.18%
0.00109964
0.00112106
-1.91%
0.00373000
0.00414000 -9
0.01479264
0.01470013
0.63%
0.00811310
0.00792345
2.39%
0.00076325
0.00075093
1.64%
0.02268259
0.02319353 -2
0.01035485
0.01029009
0.63%
0.00567913
0.00554638
2.39%
0.00053428
0.00052565
1.64%
0.01587782
0.01623547 -2
0.01035485
0.01029009
0.63%
0.00567916
0.00554641
2.39%
0.00053428
0.00052565
1.64%
0.01587782
0.01623539 -2
0.02226751
0.02249156
-1.00%
0.01161928
0.01212307
-4.16%
0.00113750
0.00114893
-0.99%
0.03301589
0.03345475 -1
0.01447388
0.01461951
-1.00%
0.00755256
0.00788002
-4.16%
0.00073937
0.00074681
-1.00%
0.02146033
0.02174558 -1
0.01447388
0.01461951
-1.00%
0.00755261
0.00788008
-4.16%
0.00073937
0.00074681
-1.00%
0.02146033
0.02174558 -1
0.02650551
0.02677221
-1.00%
0.01386255
0.01443036
-3.93%
0.00135399
0.00136760
-1.00%
0.03929955
0.03982193 -1
0.01722858
0.01740194
-1.00%
0.00899009
0.00937988
-4.16%
0.00088009
0.00088894
-1.00%
0.02554471
0.02588425 -1
0.00979513
0.00973387
0.63%
0.00537219
0.00524661
2.39%
0.00050540
0.00049723
1.64%
0.01436592
0.01538000 -6
0.00194456
0.00193240
0.63%
0.00106550
0.00104157
2.30%
0.00010033
0.00009871
1.64%
0.00093250
0.00103500 -9
0.00272238
0.00193240
40.88%
0.00109379
0.00104165
5.01%
0.00014046
0.00009871
42.30%
0.00130550
0.00103500 2E
NOTES:
1 The overall reductions in the Large Industrial & Industrial classes result from the "Hard Cap" levy restriction imposed by the province
on classes having a Tax Ratio in excess of the Provincial Average Ratio for the class.
2 The reductions in the Multi -Residential class are due to a reduction in the Tax Ratio for this class being reduced from 2.8392 to 2.7400
to meet the Provincial Average Ratio for the class and thus avoid the requirement of implementing a "Hard Cap" in this class across the County.
3 The increase to the Farmland Awaiting Development Phase I class relates to the decrease in the discount factor from 75% to 65% from 2000 to 21