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O. Reg. 367/05: Tax Matters - Special Tax Rates and Limits, 2003 and Later Years

filed June 22, 2005 under Municipal Act, 2001, S.O. 2001, c. 25

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ontario regulation 367/05

made under the

municipal act, 2001

Made: June 21, 2005
Filed: June 22, 2005
Printed in The Ontario Gazette: July 9, 2005

Amending O. Reg. 73/03

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

1. Subsection 8.2 (1) of Ontario Regulation 73/03 is revoked and the following substituted:

(1) The following property is exempt from the application of Part IX of the Act for the 2003, 2004 and 2005 taxation years:

1. Land at the Darlington Generation Station that is included in the commercial property class, the office building property class or the large industrial property class.

2. Land at the Pickering Generation Station that is included in the commercial property class, the office building property class or the large industrial property class.

2. Section 11 of the Regulation is amended by adding the following subsection:

(3) Despite subsection (1), if the Municipal Extra Territorial Tax Act applies to the property, the actual tax rate for the property for 2005 or a subsequent taxation year is the sum of each tax rate for the taxation year for municipal purposes that is applicable to the property.

3. Section 12 of the Regulation is amended by adding the following subsection:

(6) Despite paragraph 6 of subsection (1), if the Municipal Extra Territorial Tax Act applies to the property, the notional tax rate for 2005 or a subsequent taxation year to raise the previous year’s levies is the sum of the class rates for the previous year, as determined under paragraph 5 of subsection (1), for the applicable property class.

Made by:

Gregory Sorbara

Minister of Finance

Date made: June 21, 2005.