Taxation
THE CORPORATION OF THE MUNICIPALITY OF MAGNETAWAN
BY-LAW NO. 2012-15
Being a By-law to Set and Levy the
Rates of Taxation in 2012
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WHEREAS it is necessary for the Council of the Municipality of Magnetawan pursuant to the Municipal Act, 2001, S.O. , c.25, as, amended, to raise certain sums for the 2012 taxation year;
AND WHEREAS all property assessment rolls on which the 2012 taxes are to be levied have been returned and revised pursuant to the provision of the Assessment Act subject to appeals at present before the District Court and the Ontario Municipal Board;
AND WHEREAS “Residential Assessment”, “Commercial Assessment”, “Industrial Assessment”, “Farmland Assessment” and “Managed Forest Assessment”, as defined in the Assessment Act as amended by the Fair Municipal Finance Act, 1997 and further amended by Regulations, have been determined on the basis of the property assessment rolls;
AND WHEREAS the tax ratios on the aforementioned property for the 2012 taxation year have been established by By-law No. 2012-06 of the Municipality of Magnetawan;
AND WHEREAS the tax rates on the aforementioned property classes and property sub-classes have been calculated pursuant to the provisions of the Municipal Act, 2001,S.O. c.25, as amended and in the manner outlined;
NOW THEREFORE the Council of the Corporation of the Municipality of Magnetawan enacts as follows:
1) THAT the 2012 current municipal budget be adopted in the following amounts:
Expenditures Municipal $ 5,296,818
Public/Separate Education $1,343,923
TOTAL: $ 6,640,741
Revenue $2,243,732
Taxation General Portion $ 3,053,086
Taxation School Portion $ 1,343,923
TOTAL: $ 6,640,741
2) THAT for the year 2012, the Municipality of Magnetawan shall levy the following rates of taxation per current value assessment:
MAP DIVISION 010, 030, 040 (former Chapman, Croft, Spence):
Residential/Farm Assessment: Education 0.00221000
General 0.00517011
TOTAL: 0.00738011
Commercial Assessment Occupied: Education 0.00665419
General 0.00594867
TOTAL: 0.01260286
Commercial Assessment Vacant: Education 0.00465793
General 0.00416407
TOTAL: 0.00882200
Commercial Assessment New Construction Education 0.00665419
General 0.00594867
TOTAL: 0.01260286
Industrial Assessment Occupied: Education 0.00831666
General 0.00568678
TOTAL: 0.01400344
Industrial Assessment Vacant: Education 0.00540583
General 0.00369641
TOTAL: 0.00910224
Farmland Assessment: Education 0.00055250
General 0.00129253
TOTAL: 0.00184503
Managed Forest Assessment: Education 0.00055250
General 0.00129253
TOTAL: 0.00184503
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MAP DIVISION 020 (Village of Magnetawan):
Residential/Farm Assessment: Education 0.00221000
General 0.00517011
Special Area Rate 0.00156458
TOTAL: 0.00894469
Multi Residential Assessment: Education 0.00221000
General 0.01078679
Special Area Rate 0.00326429
TOTAL: 0.01626108
Commercial Assessment Occupied Education 0.00665419
General 0.00594867
Special Area Rate 0.00180018
TOTAL: 0.01440304
Commercial Assessment Vacant Education 0.00465793
General 0.00416407
Special Area Rate 0.00126013
TOTAL: 0.01008213
Commercial Assessment - New Construction Education 0.00665419
General 0.00594867
Special Area Rate 0.00180018
TOTAL 0.01440304
Farmland Assessment Education 0.00055250
General 0.00129253
Special Area Rate 0.00039114
TOTAL: 0.00223617
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3) THAT the real property taxes imposed pursuant to the provision of this by-law shall become due and payable on September 28, 2012 and November 30, 2012.
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4) THAT the Treasurer/Tax Collector of the Corporation of the Municipality of Magnetawan shall mail or cause to be mailed to the address of the residence or place of business of each property or person a notice specifying the amount of taxes payable by such person(s) pursuant to the provisions of the by-law.
5) THAT the Treasurer/Tax Collector is hereby authorized to accept part payment from time to time on account of any taxes which have become due pursuant to this by-law.
For payments in lieu of taxes due to the Municipality of Magnetawan under the Municipal Act, 2001, S.O., c.25, as amended, the actual amount due to the Municipality of Magnetawan will be based on the assessment rolls and the municipal rates of taxation for the year 2012.
6) THAT the 2012 municipal budget outlined on the attached Appendix 'A' be and is hereby
adopted and forming part of this by-law.
7) THAT this by-law takes effect on the date adopted.
ADOPTED THIS 11TH DAY OF JULY 2012.
