3593 To authorize an Assessment Rebate Program for 75 Broadway, Town of Tillsonburg, County of Oxford.THE CORPORATION OF THE TOWN OF TILLSONBURG
BY-LAW NUMBER 3593
A BY-LAW to authorize an Assessment Rebate Program for 75 Broadway, Town of
Tillsonburg, County of Oxford.
WHEREAS The Town of Tillsonburg is desirous of approving an Assessment Rebate Program
for the property known 75 Broadway, through the municipalities Community Improvement Plan.
AND WHEREAS by virtue of Section 28 of the Planning Act, enables a municipal council to
enact a Community Improvement Plan.
THEREFORE the Council of the Town of Tillsonburg enacts as follows:
1. The terms of the assessment rebate are detailed below:
• For a period of 10 (ten] consecutive years, having commenced on January 1,
2012 arid ending on the 31st day of December 2021
• At a rate of 100% (one hundred percent) of the Incremental Tax Increase for the
first five year period (taxation years 2012, 2013, 2014, 2015, 2016), and 55%
(fifty five percent) for the Incremental Tax Increase for the second five year
period (taxation years 2017, 2018, 2019, 2020, 2021).
2. That the Town of Tillsonburg Tax Revenue Manager initiates this program on the passing
of this by-law.
3. THAT the by-law shall take full force and effect upon final passage hereof.
READ A FIRST AND SECOND TIME THIS 1st DAY OF March, 2012.
READ A THIRD AND FINAL TIME AND PASSED THIS 12th DAY OF March, 2012.
... JMAYOR-John Lessif
CLERK-Donna Wilson