O. Reg. 60/19: TAX MATTERS - VACANT UNIT REBATE

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ontario regulation 60/19

made under the

Municipal Act, 2001

Made: April 8, 2019
Filed: April 9, 2019
Published on e-Laws: April 9, 2019
Printed in The Ontario Gazette: April 27, 2019

Amending O. Reg. 325/01

(TAX MATTERS - VACANT UNIT REBATE)

1. (1)  Subsection 2 (1) of Ontario Regulation 325/01 is amended by adding “and in section 2.1” after “section” in the portion before the definition of “base property”.

(2) Subsections 2 (2) and (3) of the Regulation are amended by adding “Subject to section 2.1” at the beginning.

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

Amount of rebate for certain municipalities, 2019 and subsequent taxation years

2.1 (1) This section applies for the 2019 and subsequent taxation years in respect of an eligible property located in a municipality other than a municipality referred to in sections 13 to 40.

(2) The amount of taxes in respect of an eligible property to which the percentage specified in paragraph 2 or 3 of subsection 364 (2) of the Act, set out in subsection 2 (1.1) of this Regulation or referred to in subsection 364 (4) of the Act is to be applied is determined as follows:

1. Take the value of the eligible property for the year as determined by the assessment corporation.

2. Determine the percentage that the value of the eligible property is of the assessed value of the base property for the taxation year.

3. Multiply the percentage determined under paragraph 2 by,

i. for the 2019 taxation year, the sum of,

A. the taxes for municipal purposes for the base property for the taxation year, and

B. half of the taxes for school purposes for the base property for the taxation year, and

ii. for the 2020 taxation year and subsequent taxation years, the taxes for municipal purposes for the base property for the taxation year.  

4. Determine the percentage that the number of days in the taxation year that the property was an eligible property is of the total number of days in the year.

5. Multiply the percentage determined under paragraph 4 by the product determined under paragraph 3.

(3) The amount of the rebate for the purposes of section 364 of the Act in respect of an eligible property is determined by multiplying the amount of taxes determined under subsection (2) in respect of the eligible property for the year by the percentage specified in paragraph 2 or 3 of subsection 364 (2) of the Act, set out in subsection 2 (1.1) of this Regulation or referred to in subsection 364 (4) of the Act, whichever percentage applies.

(4) Subsection 2 (4) also applies to the determination of the amount of the rebate under this section.

(5) Despite subsection 364 (11) of the Act, for the 2019 taxation year the amount of a tax rebate with respect to an eligible property shall be shared in accordance with the following rules:

1. The municipalities that share in the revenue from the taxes for municipal purposes on the property shall share, in the same portion as the municipalities share in that revenue, the cost of the portion of the rebate attributable to the taxes for municipal purposes.

2. The school boards that share in the revenue from the taxes for school purposes on the property shall share, in the same portion as the school boards share in that revenue, the cost of the portion of the rebate attributable to the taxes for school purposes.

(6) Despite subsection 364 (11) of the Act, for the 2020 taxation year and subsequent taxation years, the school boards shall not share in the cost of the rebate, and the municipalities that share in the revenue from the taxes for municipal purposes on the property shall share the cost of the rebate in the same proportion as the municipalities share in that revenue.

Commencement

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

 

Made by:
Pris par :

Le ministre des Finances,

Victor Fedeli

Minister of Finance

Date made: April 8, 2019
Pris le : 8 avril 2019

 

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