O. Reg. 343/12: TRADITIONAL MUNICIPAL TAXES, LIMITS AND COLLECTION

 

ontario regulation 343/12

made under the

city of toronto act, 2006

Made: November 5, 2012
Filed: November 5, 2012
Published on e-Laws: November 6, 2012
Printed in The Ontario Gazette: November 24, 2012

Amending O. Reg. 121/07

(traditional municipal taxes, limits and collection)

1. (1) Subsection 35 (3) of Ontario Regulation 121/07 is amended by adding the following paragraph:

1.2 A portion of a property, if that portion would otherwise be eligible property only because of a change in classification and if that portion satisfies the following conditions:

i. After the change in classification, the portion is deemed to be a separate property under subsection 288 (3) of the Act.

ii. After the change in classification, the portion is in the same class of property as in the previous year.

iii. In the previous year, the portion was subject to Part XII of the Act.

(2) Section 35 of the Regulation is amended by adding the following subsections:

(3.1) Paragraphs 1.1 and 1.2 of subsection (3) are deemed to have applied in 2007 and subsequent taxation years.

(3.2) However, subsection (3.1) does not apply with respect to a property for the 2007 taxation year,

(a) if the assessment corporation provided a list of comparable properties to the local municipality under subsection 294 (8) of the Act; and

(b) if it did so as a result of a change in classification of the property as described in paragraph 1.1 or 1.2 of subsection (3).

Commencement

2. This Regulation comes into force on the day it is filed.

Made by:

Dwight Douglas Duncan

Minister of Finance

Date made: November 5, 2012.