ontario regulation 337/11

made under the

municipal act, 2001

Made: July 19, 2011
Filed: July 21, 2011
Published on e-Laws: July 22, 2011
Printed in The Ontario Gazette: August 6, 2011


Amending O. Reg. 73/03

(Tax Matters — Special Tax Rates and Limits, 2003 and Later Years)

1. (1) The definition of “previous year” in subsection 1 (1) Ontario Regulation 73/03 is revoked and the following substituted:

“previous year” means the taxation year immediately preceding the qualifying taxation year;

(2) The definition of “qualifying taxation year” in subsection 1 (1) of the Regulation is revoked and the following substituted:

“qualifying taxation year” means the 2011 taxation year;

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

Identification of comparable properties, subss. 331 (6), (7) of the Act

22.1 (1) This section applies with respect to the eligible properties in any municipality in which, under subparagraph 8 ii of subsection 329.1 (1) of the Act, the amount of taxes on the properties for a particular taxation year is to be determined by multiplying the amount of the uncapped taxes by 100 per cent.

(2) Despite subsections 331 (6) and (7) of the Act, the assessment corporation is not required to identify comparable properties with respect to those eligible properties.

Commencement

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

Made by:

Dwight Douglas Duncan

Minister of Finance

Date made: July 19, 2011.