TAX MATTERS - TRANSITION RATIOS AND AVERAGE TRANSITION RATIOS

ontario regulation 65/17

made under the

Municipal Act, 2001

Made: March 9, 2017

Filed: March 9, 2017

Published on e-Laws: March 10, 2017

Printed in *The Ontario Gazette*: March 25, 2017

Amending O. Reg. 385/98

(TAX MATTERS - TRANSITION RATIOS AND AVERAGE TRANSITION RATIOS)

1. The definition of “qualifying taxation year” in section 0.1 of Ontario Regulation 385/98 is amended by striking out “2016” and substituting “2017”.

2. Subsection 9 (5) of the Regulation is amended by striking out “Subject to sections 10 and 11” at the beginning and substituting “Subject to sections 9.2, 9.3, 10 and 11”.

3. The Regulation is amended by adding the following sections before the heading “New Multi-Residential Property Class”:

Multi-Residential Property Class

**9.1 **(1) This section applies for the qualifying taxation year to a municipality if,

(a) in comparison to the previous year, the percentage of total tax revenue for the qualifying taxation year derived from tax on property in the multi-residential property class would be higher in the qualifying taxation year if the unadjusted tax ratio for the qualifying taxation year was applied;

(b) the unadjusted tax ratio for the multi-residential property class for the qualifying taxation year is equal to or greater than 2.0; and

(c) the municipality does not establish a tax ratio under subsection 9 (2).

(2) The transition ratio for the multi-residential property class for the qualifying taxation year is the greater of 2.0 and the transition ratio for the property class determined using the rules set out in subsection 9 (5).

**9.2 **(1) This section applies for the qualifying taxation year to a municipality if, in comparison to the previous year, the percentage of total tax revenue for the qualifying taxation year derived from tax on property in the multi-residential property class would be lower in the qualifying taxation year if the unadjusted tax ratio for the qualifying taxation year was applied.

(2) If the unadjusted tax ratio for the multi-residential property class is equal to or greater than 2.0, the transition ratio for the property class for the qualifying taxation year is equal to the unadjusted tax ratio.

(3) If the unadjusted tax ratio for the multi-residential property class is less than 2.0 and if the municipality establishes a tax ratio under subsection 9 (2), the transition ratio for the property class for the qualifying taxation year is the lesser of 2.0 and the transition ratio for the property class determined using the rules set out in subsection 9 (5).

**9.3 **(1) This section applies for the qualifying taxation year to a municipality if the percentage of total revenue for the qualifying taxation year derived from tax on property in the multi-residential property class would be the equal to the previous year’s if the unadjusted tax ratio for the qualifying taxation year was applied.

(2) If the unadjusted tax ratio for the multi-residential property class is equal to or greater than 2.0, the transition ratio for the property class for the qualifying taxation year shall be determined as follows:

1. Take the greater of 2.0 and the transition ratio for the property class determined using the rules set out in subsection 9 (5).

2. The transition ratio is the lesser of the amount determined under paragraph 1 and the unadjusted tax ratio for the property class.

(3) If the unadjusted tax ratio for the multi-residential property class is less than 2.0 and if the municipality establishes a tax ratio under subsection 9 (2), the transition ratio for the property class for the qualifying taxation year is the lesser of 2.0 and the transition ratio for the property class determined using the rules set out in subsection 9 (5).

4. The Regulation is amended by adding the following section:

**17. **Despite sections 9 to 12, for the Township of Ear Falls for the 2017 taxation year,

(a) the transition ratio for the industrial property class and the large industrial property class is 3.765375; and

(b) the average transition ratio for the industrial classes is 3.765375.

Commencement

5. 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: March 9, 2017

Pris le : 9 mars 2017