PART IX LIMITATION ON TAXES FOR CERTAIN PROPERTY CLASSES
329.1
329.1 (1) A municipality, other than a lower-tier municipality, may pass a by-law to have one or more of the following paragraphs apply in the calculation of the amount of taxes for municipal and school purposes payable in respect of property in the commercial classes, the industrial classes, the multi-residential property class or a class prescribed under clause 327 (10) (a) for a taxation year: 1.  In determining the amount of taxes for municipal and school purposes for the year under subsection 329 (1) and the amount of the tenant’s cap under subsection 332 (5), i.  10 per cent or such other percentage as may be prescribed, or a percentage specified in the by-law for the purposes of this paragraph that exceeds 5 per cent, whichever is lower, shall be used, instead of 5 per cent, in determining the amount to be added under paragraph 2 of subsection 329 (1), and ii.  the same percentage used under subparagraph i, instead of 5 per cent, shall be used in increasing under paragraph 2 of subsection 332 (5) the amount calculated under paragraph 1 of that subsection. 2.  In determining the amount of taxes for municipal and school purposes for the year under subsection 329 (1) and the amount of the tenant’s cap under subsection 332 (5), i.  the amount to be added under paragraph 2 of subsection 329 (1) shall be the greatest of, A.  the amount of the taxes for municipal and school purposes that would have been levied in respect of the property for the previous year but for the application of this Part, subject to such adjustments as may be prescribed, multiplied by 5 per cent or such other percentage as may be prescribed, or a percentage specified in the by-law for the purposes of this subparagraph that is less than 5 per cent or than such other percentage as may be prescribed, B.  the amount that would be added under paragraph 2 of subsection 329 (1) for the year using the percentage used under subparagraph 1 i, if the municipality passes a by-law to have paragraph 1 apply for the year to property in the class in which the property is included, and C.  5 per cent of the amount determined under paragraph 1 of subsection 329 (1) for the property for the year, and ii.  the amount determined under paragraph 1 of subsection 332 (5) shall be increased under paragraph 2 of that subsection by the amount determined under the following, instead of the amount specified in paragraph 2 of that subsection: A.  the amount on account of taxes levied for municipal and school purposes that the tenant would have been required to pay under the tenant’s lease in the previous year but for the application of section 332 multiplied by the percentage used in determining the amount under sub-subparagraph i A, if the amount determined under sub-subparagraph i A is the greatest of the amounts determined under subparagraph i, B.  the amount calculated under paragraph 1 of subsection 332 (5) multiplied by the percentage used in determining the amount under sub-subparagraph i B, if the amount determined under sub-subparagraph i B is the greatest of the amounts determined under subparagraph i, or C.  the amount calculated under paragraph 1 of subsection 332 (5) multiplied by the percentage used under sub-subparagraph i C, if the amount determined under sub-subparagraph i C is the greatest of the amounts determined under subparagraph i. 3.  The amount of the taxes for municipal and school purposes for a property for a taxation year shall be the amount of the uncapped taxes for the property for the year if the amount of the uncapped taxes exceeds the amount of the taxes for municipal and school purposes for the property for the taxation year as determined under section 329 by the lesser of, i.  $250 or such other amount as may be prescribed, and ii.  the amount, if any, specified in the by-law for the purposes of this paragraph. 4.  The amount of the taxes for municipal and school purposes for a property for a taxation year shall be the amount of the uncapped taxes for the property for the year if the amount of the taxes for municipal and school purposes for the property for the taxation year as determined under section 330 exceeds the amount of the uncapped taxes by the lesser of, i.  $250 or such other amount as may be prescribed, and ii.  the amount, if any, specified in the by-law for the purposes of this paragraph. 5.-7.  Repealed: 2015, c. 38, Sched. 15, s. 2 (5). 8.  If, for all or part of 2008 or a subsequent taxation year, a property becomes an eligible property within the meaning of subsection 331 (20), the taxes for municipal and school purposes for the year or portion of the year shall be the greater of, i.  the amount of the taxes determined for the property for the taxation year under subsection 331 (2), and ii.  the amount of the uncapped taxes for the property for the taxation year multiplied by 100 per cent or the percentage specified in the by-law for the purposes of this subparagraph, whichever is lower.  2004, c. 7, s. 11; 2015, c. 38, Sched. 15, s. 2; 2016, c. 37, Sched. 15, s. 8. Time limit for passing by-law (2) A by-law under subsection (1) must be passed in the year to which the by-law applies.  2009, c. 33, Sched. 21, s. 6 (27). Application of ss. 329 and 332 as modified (3) If a municipality passes a by-law under subsection (1), (a)  a reference to section 329 in any section of this Part other than section 329 and this section shall be deemed to be a reference to section 329 as modified by the application of the paragraph or paragraphs specified in the by-law, if applicable; and (b)  the reference to subsection 332 (5) in subsection 367 (13) shall be deemed to be a reference to subsection 332 (5) as modified by the application of the paragraph or paragraphs specified in the by-law, if applicable.  2004, c. 7, s. 11. Regulations (4) The Minister of Finance may make regulations prescribing, for the purposes of sub-subparagraph 2 i A of subsection (1), adjustments to be made in determining the amount of taxes for municipal and school purposes that would have been levied in the previous year on a property but for the application of this Part and prescribing the circumstances in which those adjustments are to be made.  2009, c. 33, Sched. 21, s. 6 (28). (5) Repealed:  2009, c. 33, Sched. 21, s. 6 (29). Definition (6) In this section, “uncapped taxes” means, in respect of a taxation year, the taxes for municipal and school purposes that would be levied for the taxation year but for the application of this Part.  2004, c. 7, s. 11. Section Amendments with date in force (d/m/y) 2004, c. 7, s. 11
- 17/06/2004 2009, c. 33, Sched. 21, s. 6 (27-29) - 25/01/2010 2015, c. 38, Sched. 15, s. 2 (1-5) - 10/12/2015 2016, c. 37, Sched. 15, s. 8 - 08/12/2016