O. Reg. 511/24: TAX MATTERS - SPECIAL TAX RATES AND LIMITS, Filed December 10, 2024 under Municipal Act, 2001, S.O. 2001, c. 25

ontario regulation 511/24

made under the

Municipal Act, 2001

Made: December 10, 2024
Filed: December 10, 2024
Published on e-Laws: December 10, 2024
Published in The Ontario Gazette: December 28, 2024

Amending O. Reg. 73/03

(TAX MATTERS — SPECIAL TAX RATES AND LIMITS)

1. Section 4 of Ontario Regulation 73/03 is amended by adding the following paragraph:

5. 2.63 for the aggregate extraction property class.

2. (1) Paragraph 3 of subsection 12 (1) of the Regulation is amended by adding “except that, for the 2025 taxation year, the weighted assessment for the aggregate extraction property class shall not be included” at the end.

(2) Paragraph 1 of subsection 12 (2) of the Regulation is amended by striking out “subsection (3)” at the end and substituting “subsections (3) and (3.0.1)”.

(3) Section 12 of the Regulation is amended by adding the following subsection:

(3.0.1) For the purposes of paragraph 1 of subsection (2), if the previous year is 2024, the total assessment for property in a property class is determined by excluding the assessment of property that is classified in the aggregate extraction property class.

Commencement

3. This Regulation comes into force on the later of January 1, 2025 and the day this Regulation is filed.

Made by:
Pris par :

Le ministre des Finances,

Peter Bethlenfalvy

Minister of Finance

Date made: December 10, 2024
Pris le : 10 décembre 2024