O. Reg. 178/07: Tax Matters - Transition Ratios and Average Transition Ratios

 

ontario regulation 178/07

made under the

municipal act, 2001

Made: April 30, 2007
Filed: May 2, 2007
Published on e-Laws: May 3, 2007
Printed in The Ontario Gazette: May 19, 2007

Amending O. Reg. 385/98

(Tax Matters — Transition Ratios and Average Transition Ratios)

1. Subsection 6 (2) of Ontario Regulation 385/98 is amended,

(a) by striking out “Table 3” and substituting “Table 5”; and

(b) by striking out “subsections 308 (10) and (11) of the Act” at the end and substituting “subsection 308 (10) of the Act”.

2. The Regulation is amended by adding the following section:

7. (1) The transition ratios set out in Table 6 are prescribed, for the purposes of subsection 308 (9) of the Act, for the municipalities set out in Table 6 for 2007.

(2) If no transition ratio is set out in Table 6 for a property class for a municipality, the upper limit of the allowable range for tax ratios prescribed for the property class is prescribed as the transition ratio for the purposes of subsection 308 (10) of the Act.

3. The Regulation is amended by adding the following Table:

Table 6
transition ratios and average transition ratios for 2007

Municipality	Transition ratios									Average transition ratios
	Multi-residen-tial property class	Commer-cial property class	Industrial property class	Pipeline property class	New multi-residen-tial property class	Office building property class	Shopping centre property class	Parking lots and vacant land property class	Large Indus-trial property class	Commer-cial property classes	Indus-trial property classes
Joly, Township of		1.048600	1.048600

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

Made by:

Gregory Sorbara

Minister of Finance

Date made: April 30, 2007.