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O. Reg. 20/18: TAX MATTERS - SPECIAL TAX RATES AND LIMITS

filed February 13, 2018 under Municipal Act, 2001, S.O. 2001, c. 25

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ontario regulation 20/18

made under the

Municipal Act, 2001

Made: February 12, 2018
Filed: February 13, 2018
Published on e-Laws: February 13, 2018
Printed in The Ontario Gazette: March 3, 2018

Amending O. Reg. 73/03

(TAX MATTERS - SPECIAL TAX RATES AND LIMITS)

1. (1) Section 15.0.1 of Ontario Regulation 73/03 is amended by adding the following subsection:

(3.1) If a municipality passes a by-law under section 8.3 and a by-law under this section, the taxes for a property shall be calculated in accordance with subsection 8.3 (5) before any amount is calculated for the property under this section.

(2) Paragraphs 4 and 5 of subsection 15.0.1 (5) of the Regulation are revoked and the following substituted:

4. Subtract the taxes for the property as determined under paragraph 2 of subsection 329 (1) of the Act from the adjusted uncapped taxes for the property.

5. If section 8.3 applies with respect to the property, subtract the amount determined under paragraph 4 from the amount determined under paragraph 1 of subsection 8.3 (5).

6. If section 8.3 applies with respect to the property, multiply the amount determined under paragraph 5 by the fraction determined under paragraph 2 of subsection 8.3 (5).

7. If section 8.3 applies with respect to the property, subtract the amount determined under paragraph 6 from the amount determined under paragraph 3.

8. Subtract the amount determined under paragraph 1 of subsection 329 (1) of the Act from the lesser of the amount determined under paragraph 7, if applicable, and the uncapped taxes for the property for the taxation year.

9. The amount determined under paragraph 8 is the amount to be added under paragraph 2 of subsection 329 (1) of the Act.

Commencement

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

Made by:

Charles Sousa

Minister of Finance

Date made: February 12, 2018