Determination of maximum taxes, 2001
 21. (1) Except as otherwise provided in this section and section 22, the amount of the taxes for school purposes for 2001 for a property is the amount calculated as follows: 1. Determine the amount of the taxes for school purposes for 2000 for the property under subsection (2). 2. Add five per cent of the amount determined under paragraph 1.  O. Reg. 3/02, s. 21 (1). (2) The amount of the taxes for school purposes for 2000 for a property is determined as follows: 1. Determine the amount of the taxes for school purposes that were levied on the property for 2000. 2. If, in respect of the property, the 1999 assessment roll for taxation in 2000 included an amount in the sub-class for vacant units and excess land prescribed under the Assessment Act, recalculate the taxes determined under paragraph 1 as if the property did not contain any vacant units. 3. If a supplementary assessment or change in classification is made under section 34 of the Assessment Act during 2000 or if an assessment or change in classification could have been made under section 34 of that Act and the appropriate change is made on the assessment roll for taxation in 2001, recalculate the taxes determined under paragraph 1 as if the increase in the assessment or change in classification, as the case may be, had applied to the property for all of 2000. 4. If the assessment of a property whose classification is in the sub-class for vacant land on the assessment roll for taxation in 2001 increases as a result of an improvement to that property during 2000 and if no portion of any building on the property begins to be used for any purpose during 2000, recalculate the taxes determined under paragraph 1 as if the increase in the assessment had applied to the property for all of 2000. 5. If any taxes for school purposes for 2000 are cancelled, reduced or refunded under section 442 of the Municipal Act on an application under clause 442 (1) (a), (a.1), (c) or (f) of that Act or under section 443 of that Act, recalculate the taxes determined under paragraph 1 as if the event that caused the cancellation, reduction or refund had occurred on January 1, 2000.  O. Reg. 3/02, s. 21 (2). (3) If, as a result of a request under section 39.1 of the Assessment Act, a complaint under section 40 of that Act, an application under section 46 of that Act, an application under section 447.26 of the Municipal Act or a determination under section 447.26.1 of that Act, the taxes for school purposes for a property for 2000 are recalculated, the amount under paragraph 1 of subsection (2) must be adjusted accordingly.  O. Reg. 3/02, s. 21 (3). (4) If, as a result of an assessment under subsection 32 (2) or section 33 of the Assessment Act, the total taxes for school purposes for a property for 2000 are altered, the amount under paragraph 1 of subsection (2) must be adjusted accordingly.  O. Reg. 3/02, s. 21 (4). (5) If the levying board cancels, reduces or refunds taxes for 2001, on an application made under clause 442 (1) (c) of the Municipal Act or under another provision of that Act prescribed by the Minister of Finance under subsection 447.65 (6.2) of that Act, the amount of the cancellation, reduction or refund is calculated using the formula, A/B × C in which, “A” is the amount of the cancellation, reduction or refund of taxes for the year, but for the application of this Part, “B” is the amount of taxes for the year (without deducting the amount of the cancellation, reduction or refund of taxes) that would have been payable but for the application of this Part, and “C” is the amount of taxes for the year that would be payable under this Part if no application were made. O. Reg. 3/02, s. 21 (5). (6) If an additional assessment is made in respect of property, other than a property described under subsection 22 (2), that increases the assessment of the property for 2001, (a) subsection (1) does not apply to the additional taxes for school purposes for the year attributable to the increase in the assessment; and (b) the amount of the additional taxes for school purposes is determined using the formula, T = CT/NT × CVAT in which, “T” is the amount of additional taxes for school purposes, “CT” is the amount determined under subsection (1), “NT” is the amount of the uncapped 2001 taxes, but does not include the amount of “CVAT”, and “CVAT” is the amount of supplementary taxes for school purposes that would have been payable but for the application of this subsection. O. Reg. 3/02, s. 21 (6). (7) Despite subsection (6), the 2001 taxes for school purposes for the property for the year or portion of the year in respect of which one of the following assessments is made must be recalculated on the basis that this Part does not apply: 1. An additional assessment that relates to a new building or structure erected on the property that was, prior to the assessment, assessed for 2001 as being in the sub-class for vacant land under paragraph 2 of subsection 8 (1) of the Assessment Act. 2. An additional assessment for 2001 or for 2000 and 2001 or any portion of those years, that resulted in the assessment of the property increasing by an amount equal to or greater than 50 per cent of the assessment on the assessment roll before the additional assessment was made.  O. Reg. 3/02, s. 21 (7). (8) Despite subsection (7), if an additional assessment is made for the 2000 taxation year in relation to an improvement and, in relation to the same improvement, an additional assessment is made for the 2001 taxation year under section 34 of the Assessment Act, subsection (7) does not apply with respect to the additional assessment for the 2001 taxation year.  O. Reg. 3/02, s. 21 (8). (9) Despite paragraph 2 of subsection (7), if an additional assessment is made for 2000 and for 2001, the percentage referred to in that paragraph is the percentage determined as follows: 1. Determine the additional assessment for 2000. 2. Determine the assessment on the assessment roll for taxation in 2000 before the additional assessment referred to in paragraph 1 was made. 3. Divide the amount in paragraph 1 by the amount in paragraph 2. 4. Multiply the quotient in paragraph 3 by 100. 5. Add the amounts in paragraphs 1 and 2. 6. Divide the amount in paragraph 2 by the amount in paragraph 5. 7. Multiply the quotient determined in paragraph 6 by the assessment on the assessment roll for taxation in 2001. 8. Determine the additional assessment for 2001. 9. Divide the amount in paragraph 8 by the amount in paragraph 7. 10. Multiply the quotient in paragraph 9 by 100. 11. Add the percentages in paragraphs 4 and 10.  O. Reg. 3/02, s. 21 (9). (10) If the percentage in paragraph 11 of subsection (9) is equal to or greater than 50, subsection (7) applies for 2001.  O. Reg. 3/02, s. 21 (10).