Cap for new properties
447.34.1 (1) The purpose of this section is to ensure that eligible properties are taxed in 2000 under this Part at a level of assessment that is no higher than that of comparable properties. 1999, c. 9, s. 159. Total assessment of eligible property for 2000 (2) Despite any other requirement of this Part, the total assessment on the frozen assessment listing of an eligible property for 2000 under this Part shall be the lesser of, (a) the amount determined for the year or part of the year under this section; and (b) the amount determined for the year or part of the year under this Part, but for the application of this section. 1999, c. 9, s. 159. Determination of total assessment (3) Each local municipality shall determine the total assessment for each eligible property for the year or part of the year as follows: 1. Determine the level of assessment for each property identified by the Corporation under subsection (5) as a comparable property by dividing the total assessment on the frozen assessment listing of the property for 2000 by the assessment on the assessment roll for 2000. 2. Determine the average of the levels of assessment for all comparable properties determined under paragraph 1. 3. Determine the level of assessment for the eligible property by dividing the total assessment of the property for the year, as determined under subsection 447.10 (2), by the assessment on the assessment roll for 2000. 4. Despite paragraph 3, if the eligible property has been assessed under section 33 or 34 of the Assessment Act for 2000, determine the level of assessment for the eligible property by dividing the total assessment of the property for the year or portion of the year, as determined under subsection 447.10 (2), by the sum of the assessment on the assessment roll for 2000 and the assessment under section 33 or 34 of the Assessment Act. 5. If the average level of assessment for comparable properties determined under paragraph 2 is less than the level of assessment of the eligible property determined under paragraph 3 or 4, as the case may be, the level of assessment for the eligible property shall be the amount determined under paragraph 2 rather than the amount determined under paragraph 3 or 4. 6. Determine the total assessment for the eligible property by multiplying the level of assessment determined under paragraph 3, 4 or 5, as the case may be, by the assessment on the assessment roll for 2000 or by the sum of the assessment on the assessment roll for 2000 and the assessment under section 33 or 34 of the Assessment Act, as the case may be. 1999, c. 9, s. 159. Changes to frozen assessments (4) For the purposes of determining the assessments, referred to in subsection 447.5 (4), in the frozen assessment listing for 2000, the total assessment determined under subsection (3) shall be deemed to be the total assessment in paragraph 1 of subsection 447.10 (2). 1999, c. 9, s. 159. Comparable properties identified (5) The Corporation shall identify six comparable properties with respect to an eligible property for the purposes of this section or, if there are not six comparable properties, as many comparable properties as there are. 1999, c. 9, s. 159. List provided to municipality (6) The Corporation shall provide a list of the comparable properties identified under subsection (5) with respect to an eligible property to the local municipality as soon as is practicable, (a) after the return of the assessment roll for the 2000 taxation year for eligible properties that are on the assessment roll; or (b) after the mailing of the notice of assessment of the eligible property for the 2000 taxation year or portion thereof under section 33 or 34 of the Assessment Act.  1999, c. 9, s. 159. List to be mailed to the owner (7) The local municipality shall mail to the owner of each eligible property the list of the comparable properties and the determination made under subsection (3) with respect to that eligible property within 60 days after the date the list is received by the local municipality. 1999, c. 9, s. 159. If no comparable property (8) If the Corporation determines that there are no comparable properties with respect to an eligible property, subsection (3) does not apply with respect to the eligible property and, (a) the Corporation shall give notice to the local municipality of its determination; and (b) within 60 days after receiving the notice given under clause (a), the local municipality shall give notice to the owner of the property of the Corporation’s determination and of the total assessment determined for the year or part of the year under this Part. 1999, c. 9, s. 159. Correction of errors (8.1) If a municipality determines that an error was made in a notification sent out to the owner of an eligible property under subsection (7) or (8), the municipality shall mail to the owner a notice setting out the correct information. 2000, c. 25, s. 42 (1). Appeal (9) The owner of an eligible property may, within 90 days of the mailing of information under subsection (7) or (8.1), complain in writing to the Assessment Review Board concerning the properties on the list and request that up to six alternative properties be used as comparable properties for the purposes of this section. 1999, c. 9, s. 159; 2000, c. 25, s. 42 (2). Same (10) If the Corporation has determined that there are no comparable properties with respect to an eligible property, the owner of the eligible property may, within 90 days after the owner is given the notice of determination under clause (8) (b) or subsection (8.1), complain in writing to the Assessment Review Board concerning the determination and request that up to six properties be used as comparable properties for the purpose of this section. 1999, c. 9, s. 159; 2000, c. 25, s. 42 (3). Same (11) Section 40 of the Assessment Act applies, with necessary modifications, to a complaint under subsection (9) or (10) as if it were a complaint under subsection 40 (1) of that Act. 1999, c. 9, s. 159. Authority of the Assessment Review Board (12) In a complaint under this section, the Assessment Review Board shall determine up to six comparable properties from among the comparable properties proposed by the complainant, by the Corporation or by either of them. 1999, c. 9, s. 159. Appeal (12.1) Section 43.1 of the Assessment Act applies to a decision of the Assessment Review Board. 2000, c. 25, s. 42 (4). Determination by local municipality (13) The local municipality shall determine the total assessment of the eligible property in accordance with the decision of the Assessment Review Board or the court. 1999, c. 9, s. 159. Taxes not to exceed uncapped taxes (14) Despite this section, the taxes for municipal and school purposes for 2000 shall not exceed the taxes for municipal and school purposes that would have been imposed but for the application of this Part. 1999, c. 9, s. 159. Regulations (15) The Minister of Finance may make regulations, (a) defining “eligible property” under this section to include, (i) property to which section 447.7 or subsection 447.9 (2) first applied for 1998 or 1999 and to which the section or subsection, as the case may be, continues to apply for 2000, or (ii) property to which section 447.7 and subsection 447.9 (2) do not apply for 1999 but to which the section or subsection does apply for 2000; (b) providing for the determination of total assessment on the frozen assessment listing and changes to the frozen assessment listing for 2000 for an eligible property described in clause (a). 1999, c. 9, s. 159. Definitions (16) In this section, “comparable properties” means properties that are similar lands in the vicinity, as provided under subsection 44 (2) of the Assessment Act, of the eligible property; (“biens comparables”) “Corporation” means the Municipal Property Assessment Corporation; (“Société”) “eligible property” means a property to which subsection 447.10 (2), (a) first applied for 1998 or 1999 and continues to apply for 2000, or (b) applies for 2000 and did not apply for 1999, and includes such other property as may be prescribed under clause (15) (a); (“bien admissible”) “vicinity” has the same meaning as under subsection 44 (2) of the Assessment Act, subject to the following: 1. A property located outside the local municipality in which the eligible property is located shall be deemed not to be in the vicinity. 2. Despite paragraph 1, a property located outside the upper-tier municipality in which the eligible property is located shall be deemed not to be in the vicinity if the property was reassessed under, i. section 371 of this Act, as it read before its re-enactment by the Statutes of Ontario, 1997, chapter 5, section 55, ii. section 135.3 of the Regional Municipalities Act, as it read before its repeal by the Statutes of Ontario, 1997, chapter 5, section 69, iii. section 84.13 of the County of Oxford Act, as it read before its repeal by the Statutes of Ontario, 1997, chapter 5, section 65, or iv. section 81 of the District Municipality of Muskoka Act, as it read before its repeal by the Statutes of Ontario, 1997, chapter 5, section 66. (“à proximité”) 1999, c. 9, s. 159; 2001, c. 8, s. 207 (4). PART XXII.2   CAPPING OF TAXES FOR CERTAIN PROPERTY CLASSES FOR 1998, 1999 AND 2000 — 10/5/5 PER CENT CAP Division A   Common Provisions