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

filed May 2, 2007 under Municipal Act, 2001, S.O. 2001, c. 25

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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.