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O. Reg. 366/03: TAX MATTERS - TRANSITION RATIOS AND AVERAGE TRANSITION RATIOS FOR RESTRUCTURED MUNICIPALITIES
filed September 2, 2003 under Municipal Act, 2001, S.O. 2001, c. 25
Skip to contentontario regulation 366/03
made under the
Municipal Act, 2001
Made: August 28, 2003
Filed: September 2, 2003
Printed in The Ontario Gazette: September 20, 2003
Amending O. Reg. 703/98
(Tax Matters — Transition Ratios and Average Transition Ratios for Restructured Municipalities)
1. Section 2 of Ontario Regulation 703/98 is revoked and the following substituted:
2. (1) The transition ratios set out in Table 5 are prescribed under subsection 308 (10) of the Act for the restructured municipalities set out in Table 5.
(2) If no transition ratio is set out in Table 5 for a property class for a municipality, the upper limit of the allowable range of fairness for tax ratios prescribed for the property class is prescribed as the transition ratio.
(3) The transition ratios for a restructured municipality set out in Table 5 apply with respect to 2003.
2. The Regulation is amended by adding the following Table:
Table 5
Transition Ratios for 2003 for Restructured Municipalities
Restructured Municipality |
Transition Ratios |
|||
Multi-residential property class |
Commercial property class |
Industrial property class |
Pipeline property class |
|
Charlton and Dack, Municipality of |
|
1.286070 |
1.673627 |
0.936304 |
Janet Lynne Ecker
Minister of Finance
Date made: August 28, 2003.