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O. Reg. 81/05: Tax Matters - Special Tax Rates and Limits, 2003 and Later Years

filed March 4, 2005 under Municipal Act, 2001, S.O. 2001, c. 25

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ontario regulation 81/05

made under the

municipal act, 2001

Made: March 3, 2005
Filed: March 4, 2005
Printed in The Ontario Gazette: March 19, 2005

Amending O. Reg. 73/03

(Tax Matters — Special Tax Rates and Limits, 2003 and Later Years)

1. Ontario Regulation 73/03 is amended by adding the following Part:

part iii.1
prescribed adjustments under section 329.1 of the act

Adjustments under par. 2 i A of s. 329.1 (1) of the Act

15.1 The following are prescribed, for the purposes of the 2005 or a subsequent taxation year, as the adjustments to be made under sub-subparagraph 2 i A of subsection 329.1 (1) of the Act to the amount of the taxes for municipal and school purposes that would have been levied in respect of a property for the previous year but for the application of Part IX of the Act:

1. If a supplementary assessment or change in classification was made under section 34 of the Assessment Act during the previous year or if an assessment or change in classification could have been made under section 34 of that Act and the appropriate change is made on the assessment roll for taxation in the taxation year, recalculate the taxes as if the increase in the assessment or the change in classification, as the case may be, had applied to the property for all of the previous year.

2. If the assessment of a property whose classification is in the subclass for vacant land on the assessment roll for taxation in the taxation year increases as a result of an improvement to that property during the previous year and if no portion of any building on the property began to be used for any purpose during the previous year, recalculate the taxes as if the increase in the assessment had applied to the property for all of the previous year.

3. If the council of a municipality cancels, reduces or refunds taxes under section 357 of the Act for the previous year on an application under clause 357 (1) (a), (b), (c), (d) or (f) of the Act or under section 358 of the Act for the previous year, recalculate the taxes as if the event that caused the cancellation, reduction or refund had occurred on January 1 of the previous year.

4. If the council of a municipality increases taxes under section 359 of the Act for the previous year, recalculate the taxes for the previous year accordingly.

5. If, as a result of an assessment under subsection 32 (2) or section 33 of the Assessment Act, the total taxes for municipal and school purposes for the property for the previous year are altered, recalculate the taxes for the previous year as if the alteration had applied to the property for all of the previous year.

2. Part IV of the Regulation is amended by adding the following section:

Adjustment, par. 1 of s. 330 (4) of the Act

17.1 For the purposes of paragraph 1 of subsection 330 (4) of the Act, foregone revenues shall be determined after taking into account revenues gained or lost as a result of the application of paragraph 3 or 4 of subsection 329.1 (1) of the Act.

Made by:

Gregory Sorbara

Minister of Finance

Date made: March 3, 2005.