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O. Reg. 361/18: GENERAL

filed May 3, 2018 under Assessment Act, R.S.O. 1990, c. A.31

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ontario regulation 361/18

made under the

Assessment Act

Made: May 3, 2018
Filed: May 3, 2018
Published on e-Laws: May 3, 2018
Printed in The Ontario Gazette: May 19, 2018

Amending O. Reg. 282/98

(GENERAL)

1. Ontario Regulation 282/98 is amended by adding the following section:

Small-Scale On-Farm Business Subclasses

22. (1) A subclass for small-scale on-farm business is prescribed for each of the industrial property class and the commercial property class.

(2) Subject to subsections (4) and (5), the subclass for the industrial property class consists of land in that class that satisfies the following requirements:

1. The land is used primarily to process, or manufacture something from, a farm product or products that are produced on the land or on land used to carry on the same farming business.

2. The land would be in the farm property class if the activities described in paragraph 1 were not carried out on the land.

(3) Subject to subsections (4) and (6), the subclass for the commercial property class consists of land in that class, other than a grain elevator as defined in subsection 17.1 (2), that satisfies the following requirements:

1. The land is used primarily to sell farm products, or a product derived from a farm product or products, that are produced on the land or on land used to carry on the same farming business.

2. The land would be in the farm property class if the activities described in paragraph 1 were not carried out on the land.

(4) If the assessed value of the land described in either or both of subsections (2) and (3), as the case may be, is equal to or greater than $1,000,000, the land shall not be included in the subclass for either property class.

(5) The maximum assessed value of the land that is eligible for the subclass for the industrial property class is $50,000.

(6) The maximum assessed value of the land that is eligible for the subclass for the commercial property class is,

(a) the difference between $50,000 and the assessed value of the land included in the subclass for the industrial property class; or

(b) $50,000, if no portion of the land is also included in the subclass for the industrial property class.

(7) Subject to subsection (8), a subclass only applies in a municipality if the council of the single-tier or upper-tier municipality passes a by-law opting to have the subclass apply in the municipality.

(8) The subclass for the commercial property class only applies in a municipality if the subclass for the industrial property class also applies in the municipality.

(9) This section applies with respect to the 2018 and subsequent taxation years.

2. Subclauses 44 (1) (a) (i) and (ii) of the Regulation are revoked and the following substituted:

(i) to sell farm products that consist of or include produce from the farm lands on which the building is located, or

(ii) to process farm products described in subclause (i) or manufacture anything from them; or

Commencement

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

Made by:
Pris par :

Le ministre des Finances,

Charles Sousa

Minister of Finance

 

Date made: May 3, 2018
Pris le : 3 mai 2018

 

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