Tax bills
15. (1) The tax imposed by this Act on, (a) taxable commercial property shall be for the calendar years before 1994 and becomes due and payable in two equal instalments on the 1st day of February and the 1st day of October in respect of a year before 1994 in which it is imposed; and (b) commercial parking lots shall be for the calendar year and becomes due and payable, (i) in two equal instalments on the 1st day of February and the 1st day of October in respect of a year before 1993 in which it is imposed, and (ii) in one payment on February 1, 1993 in respect of the year 1993, and the Minister shall deliver a tax bill to every owner of land subject to tax on or before the 1st day of January in the year in which the tax is payable. 1993, c. 16, s. 6 (5). Delivery (2) A tax bill shall be delivered in the same manner and to the same address as a notice of assessment under section 8 but, where land is owned by more than one person, the Minister shall deliver the tax bill to the owner designated by the other owners for this purpose or, if no owner is designated, the Minister may select the person to whom the tax bill shall be sent. R.S.O. 1990, c. C.16, s. 15 (2). Notice of address (3) Despite subsection (2), if after the delivery of a notice of assessment and before the delivery of a tax bill under this section, an owner of land subject to tax submits a written notice to the Minister requesting that the tax bill be delivered to a particular address, the tax bill shall be delivered to that address and the notice stands until revoked. R.S.O. 1990, c. C.16, s. 15 (3). Content of tax bill (4) The tax bill shall show the assessment of the land, the rate of taxation, the amount of tax payable and such other information as may be prescribed. R.S.O. 1990, c. C.16, s. 15 (4). Tax bill, omitted assessments (5) If an assessment is made under subsection 9 (1), the Minister shall deliver to the owner of the taxable commercial property or commercial parking lot a tax bill for all tax owing. R.S.O. 1990, c. C.16, s. 15 (5). Idem (6) If the tax bill delivered under subsection (5) covers a portion of a year, the Minister may deliver to the owner a tax bill for a proportion of the amount of the taxes that would have been payable under this Act for the year if the land omitted from assessment had been liable to assessment and taxation for the whole year, in the ratio that the number of full months remaining in the year after the land becomes liable to assessment and taxation bears to the number 12. R.S.O. 1990, c. C.16, s. 15 (6). Tax on supplementary assessment (7) If, between the 1st day of January and the 30th day of November in any year, land becomes liable to assessment and taxation under this Act for a reason described in clause 9 (2) (a) or (b), the Minister may deliver to the owner a tax bill for a proportion of the amount of the taxes that would have been payable under this Act for the year, if the land had been liable to assessment and taxation for the whole year, in the ratio that the number of full months remaining in the year after the land becomes liable to assessment and taxation bears to the number 12. R.S.O. 1990, c. C.16, s. 15 (7). Second instalment (8) When a tax bill is issued under subsections (5) and (7), the tax billed is due and payable within thirty days of the date of that bill but, if a tax bill is issued before the 1st day of September in a year, the second instalment of tax payable with respect to the current year is payable on the 1st day of October in that year. R.S.O. 1990, c. C.16, s. 15 (8). Liability for payment of tax (9) Owners of land are jointly and severally liable for the payment of tax under this Act. R.S.O. 1990, c. C.16, s. 15 (9). Penalty for late payment (10) The penalty for late payment of any instalment of tax payable under this Act is an amount equal to 5 per cent of the tax payable up to a maximum of $10,000. R.S.O. 1990, c. C.16, s. 15 (10). Interest (11) If, on a particular date, a debt as calculated under subsection (12) is payable by an owner, the owner shall be charged interest payable to the Treasurer at the prescribed rate and calculated in the prescribed manner on the amount of the debt from that date to the date the amount is received by the Minister. R.S.O. 1990, c. C.16, s. 15 (11). Calculation of debt (12) The amount of the debt payable by an owner under this Act at a particular date is the amount by which, (a) the aggregate of, (i) all instalments of tax under this Act payable by the owner before that date with respect to the current and all previous years, (ii) the amount, if any, by which the total amount of tax payable by the owner under this Act for all years ending before that date exceeds the aggregate of all instalments of tax payable by the owner under this Act in those years, (iii) all penalties assessed under this Act against the owner at any time before that date, and (iv) the total of all amounts of interest charged under this section to the owner in respect of a period of time ending before that date, exceeds, (b) the aggregate of, (i) the amount of all instalments paid by the owner under this Act in a year ending before that date, and (ii) the total of all amounts of interest credited to the owner in respect of a period of time ending before that date. R.S.O. 1990, c. C.16, s. 15 (12). Compound interest (13) The interest under subsection (11) shall be computed and compounded monthly to the date on which it is paid. R.S.O. 1990, c. C.16, s. 15 (13).