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O. Reg. 90/08: GENERAL

filed April 16, 2008 under Assessment Act, R.S.O. 1990, c. A.31

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ontario regulation 90/08

made under the

assessment act

Made: April 15, 2008
Filed: April 16, 2008
Published on e-Laws: April 21, 2008
Printed in The Ontario Gazette: May 3, 2008

Amending O. Reg. 282/98

(General)

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

Residual Commercial Property Class

13.1 (1) For 2008 and subsequent years, the residual commercial property class applies within a municipality, the council of which is required to pass a by-law establishing tax ratios under section 308 of the Municipal Act, 2001 or section 275 of the City of Toronto Act, 2006, only if the council has passed a by-law opting to have the residual commercial property class apply within the municipality.

(2) The residual commercial property class consists of land that would otherwise be in the commercial property class other than land in the office building property class, the shopping centre property class, the parking lots and vacant land property class or the professional sports facility property class whether or not the municipality had opted to have all or any of the property classes apply within the municipality.

(3) The council of a municipality that has passed a by-law opting to have the residual commercial property class apply may pass a by-law opting to have the class cease to apply; however, the by-law does not apply with respect to a taxation year unless the by-law is passed on or before the last day for passing a by-law opting to have the property class apply for that taxation year.

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

Made by:

Dwight Douglas Duncan

Minister of Finance

Date made: April 15, 2008.