O. Reg. 366/03: TAX MATTERS - TRANSITION RATIOS AND AVERAGE TRANSITION RATIOS FOR RESTRUCTURED MUNICIPALITIES

 

ontario 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.