O. Reg. 341/12: GENERAL
filed November 5, 2012 under Assessment Act, R.S.O. 1990, c. A.31Skip to content
ontario regulation 341/12
made under the
Made: November 5, 2012
Filed: November 5, 2012
Published on e-Laws: November 6, 2012
Printed in The Ontario Gazette: November 24, 2012
Amending O. Reg. 282/98
1. Ontario Regulation 282/98 is amended by adding the following section:
45.4 (1) For the purposes of this section, a residential community is composed of the following parcels of land located in the same immediate vicinity:
1. Residential lots, which are parcels of land in the community that are used for residential purposes and that are owned by persons who also own common land in the community.
2. Common land, which are parcels of land,
i. that are parkland, pathways or other common amenities intended for the use of the owners of residential lots in the community,
ii. that are owned by two or more persons, each of whom also owns a residential lot in the community, and
iii. that are not subject to a condominium plan.
(2) The following rules apply to a residential community for the 2013 and subsequent taxation years:
1. The current value of a residential lot shall reflect the value that the common land in the community adds to the value of the residential lot.
2. The current value of common land is deemed to be zero.
3. No notice need be given under subsections 31 (1) or 35 (1) of the Act with respect to common land.
2. This Regulation comes into force on the day it is filed.
Dwight Douglas Duncan
Minister of Finance
Date made: November 5, 2012.