PART IX FINANCE
School tax rates for commercial and industrial classes
257.12.2 (1) The authority of the Minister of Finance to prescribe tax rates for school purposes under section 257.12 shall be used so that the requirements in this section are satisfied.  1998, c. 33, s. 44. Application with respect to requisitions (2) The authority of the Minister of Finance to requisition amounts under section 257.12.1 shall be used so that the tax rates set by the council of the municipality pursuant to the requisition result in the requirements in this section being satisfied.  1998, c. 33, s. 44. 2005 and after (3) The weighted average tax rate for school purposes for the commercial classes for a municipality for 2005 and later years must not exceed the provincial average tax rate as prescribed.  2000, c. 25, s. 45 (9). Before 2005, below provincial average tax rate (4) For a year after 1998 but before 2005, if the weighted average tax rate for school purposes for the commercial classes for the municipality for the previous year was the provincial average tax rate as prescribed or less, the weighted average tax rate for school purposes for the commercial classes for the municipality for the current year must not exceed the provincial average tax rate as prescribed.  2000, c. 25, s. 45 (9). Before 2005, above provincial average tax rate (5) For a year after 1998 but before 2005, if the weighted average tax rate for school purposes for the commercial classes for the municipality for the previous year was greater than the provincial average tax rate as prescribed, the weighted average tax rate for school purposes for the commercial classes for the municipality for the current year must not exceed a maximum determined in accordance with the following: 1. Determine the amount by which the weighted average tax rate for school purposes for the commercial classes for the municipality for the previous year exceeds the provincial average tax rate as prescribed. 2. Determine the number of years until 2005, including the current year and the year 2005. 3. Divide the amount determined under paragraph 1 by the number of years under paragraph 2. 4. The maximum is the weighted average tax rate for school purposes for the commercial classes for the municipality for the previous year minus the amount determined under paragraph 3.  2000, c. 25, s. 45 (9). Weighted average tax rate (6) For the purposes of this section, the weighted average tax rate for school purposes for the commercial classes for a municipality is a percentage determined in accordance with the following: 1. The weighted average tax rate for school purposes for the commercial classes for a municipality for a year shall be determined by adding the taxes for school purposes for the year on all property in the commercial classes in the municipality for the year, dividing that sum by the total assessment of such property, as set out in the assessment roll returned for the year, and multiplying by 100. 2. The weighted average tax rate for school purposes for the commercial classes for a municipality for a previous year shall be determined by adding the taxes for school purposes for the previous year on all property that is in the municipality in the current year and was in the commercial classes for the previous year, dividing that sum by the total assessment of such property, as set out in the assessment roll returned for the previous year, and multiplying by 100. 3. For the purposes of paragraph 2, the taxes for school purposes for a property with respect to which Part XXII.1 or Division B of Part XXII.2 of the Municipal Act, as that Part and that Division read on December 31, 2002, applied shall be deemed to be equal to the taxes that would have been raised by the tax rate prescribed by the Minister of Finance under section 257.12 or, if the Minister of Finance requisitioned an amount under section 257.12.1, by the tax rate set by the council of a municipality pursuant to the requisition.  1998, c. 33, s. 44; 2002, c. 17, Sched. F, Table. (7) Repealed:  2002, c. 17, Sched. F, Table. Regulations, accelerated rate reduction (7.1) For greater clarity in interpreting this section, the Minister of Finance may make regulations to prescribe for a year before 2005 tax rates for school purposes in order to reduce the weighted average tax rate for school purposes for the commercial classes or the industrial classes below the maximum tax rate otherwise required under subsection (5).  1999, c. 9, s. 100 (1). General or specific (7.2) A regulation under subsection (7.1) may be general or specific in its application and may treat different municipalities differently.  1999, c. 9, s. 100 (1). Industrial classes (8) Subsections (3) to (7.2) also apply, with necessary modifications, with respect to the industrial classes.  1998, c. 33, s. 44; 1999, c. 9, s. 100 (2). Regulations (8.1) The Minister of Finance may make regulations prescribing the provincial average tax rate for the purposes of this section and the regulations may be general or specific and may be different for different classes of real property.  2000, c. 25, s. 45 (11). Definitions (9) In this section, “commercial classes” has the same meaning as in subsection 308 (1) of the Municipal Act, 2001 or subsection 275 (1) of the City of Toronto Act, 2006, as the case may be; (“catégories commerciales”) “industrial classes” has the same meaning as in subsection 308 (1) of the Municipal Act, 2001 or subsection 275 (1) of the City of Toronto Act, 2006, as the case may be; (“catégories industrielles”) “municipality” means a single-tier municipality or an upper-tier municipality. (“municipalité”)  2006, c. 32, Sched. C, s. 15 (30). Reduction below provincial average tax rate (9.1) Nothing in this section affects the authority of the Minister of Finance to prescribe tax rates for school purposes under section 257.12 so that the weighted average tax rate for school purposes for the commercial classes or for the industrial classes for a municipality is less than the provincial average tax rate as prescribed.  1999, c. 9, s. 100 (3); 2000, c. 25, s. 45 (12). Section Amendments with date in force (d/m/y) 1998, c. 33, s. 44 - 18/12/1998; 1999, c. 9, s. 100 (1-3) - 14/12/1999 2000, c. 25, s. 45 (9, 11, 12) - 01/01/2001 2002, c. 17, Sched. F, Table - 01/01/2003 2006, c. 32, Sched. C, s. 15 (30) - 01/01/2007