23 (1) Any local municipality may enter into an agreement with the owner of a golf course for providing a fixed assessment for the land occupied as a golf course, but not including the part of the land actually occupied by any building or structure or the building or structure, to apply to taxation for general, school and special purposes, but not to apply to taxation for local improvements.  R.S.O. 1990, c. A.31, s. 23 (1). Duties of municipal officials: (2) Where a golf course has a fixed assessment under an agreement under subsection (1), assessment (a)  the golf course shall be assessed each year as if it did not have a fixed assessment; taxes (b)  the treasurer shall calculate each year what the taxes would have been on the golf course if it did not have a fixed assessment; record (c)  the treasurer shall keep a record of the difference between the taxes paid each year and the taxes that would have been paid if the golf course did not have a fixed assessment and shall debit the golf course with this amount each year during the term of the agreement and shall add to the debit on the 1st day of January in each year the interest that may be agreed upon on the aggregate amount of the debit on that date; and distribution of taxes (d)  the taxes paid on the fixed assessment shall be distributed among the bodies for which the municipality is required to levy in the proportion that the levy for each body bears to the total levy.  R.S.O. 1990, c. A.31, s. 23 (2). Agreement to be registered (3) Every agreement shall be registered in the proper land registry office for the registry division or land titles division in which the golf course or any part of the golf course is located.  2002, c. 17, Sched. F, Table. Termination of agreement, as to all of lands (4) When an agreement is for any reason terminated as to the whole of the lands in respect of which the fixed assessment is given, the owner shall, (a)  pay to the municipality the amount debited against the golf course, including the amounts of interest debited in accordance with clause (2) (c); or (b)  require the municipality to purchase the golf course for an amount equal to the fixed assessment.  R.S.O. 1990, c. A.31, s. 23 (4). as to part of lands (5) When an agreement is for any reason terminated as to a part of the land in respect of which the fixed assessment is given, the owner shall, (a)  pay to the municipality that portion of the amount debited against the golf course, including the amounts of interest debited in accordance with clause (2) (c), that is attributable to the portion of the golf course in respect of which the agreement is terminated; or (b)  require the municipality to purchase the part of the golf course in respect of which the agreement is terminated for an amount equal to the fixed assessment that is attributable to the part.  R.S.O. 1990, c. A.31, s. 23 (5). Agreement terminated when land ceases to be used as golf course (6) Where a golf course has a fixed assessment under an agreement under subsection (1), the agreement shall terminate as to the whole or any part of the land in respect of which the fixed assessment is given when the whole or any such part thereof ceases to be occupied for the purposes of a golf course.  R.S.O. 1990, c. A.31, s. 23 (6). Termination of agreement (7) Any agreement may be terminated on the 31st day of December in any year upon the owner of the golf course giving six months notice of the termination in writing to the municipality.  R.S.O. 1990, c. A.31, s. 23 (7). Dispute (8) Any dispute between the municipality and the owner of the golf course in relation to an agreement or this section shall be settled by the Ontario Land Tribunal, and the decision of the Tribunal is final.  R.S.O. 1990, c. A.31, s. 23 (8); 2021, c. 4, Sched. 6, s. 31 (5). Update of old fixed assessment (9) A fixed assessment is changed each year after the year with respect to which it first applies in accordance with the following: Fixed assessment for the current year = [Previous year’s taxes / Current year’s tax rate] × Tax change (class) where, “Previous year’s taxes” means the taxes levied for municipal and school purposes in the previous year on the land to which the fixed assessment relates; “Current year’s tax rate” means the total tax rate, for municipal and school purposes for the current year, for property in the residential property class in the local municipality; “Tax change (class)” means an amount determined in accordance with the following: 1.  Determine the total taxes levied for municipal and school purposes in the previous year on the property described in paragraph 4. 2.  Determine the total taxes levied for municipal and school purposes in the current year on the property described in paragraph 4. 3.  The Tax change (class) is the amount determined under paragraph 2 divided by the amount determined under paragraph 1. 4.  The property referred to in paragraphs 1 and 2 is the property in the local municipality that, for both the previous year and the current year, is in the residential property class.  For 1998, the property referred to in paragraphs 1 and 2 is the property in the local municipality that, for 1998, is in the residential property class. 1998, c. 3, s. 4; 2002, c. 22, s. 5. Application of subsection (9) (10) For greater certainty, (a)  subsection (9) applies with respect to an agreement entered into before or after subsection (9) came into force; and (b)  subsection (9) applies with respect to 1998 and subsequent years but not with respect to years before 1998.  1998, c. 3, s. 4. Section Amendments with date in force (d/m/y) 1998, c. 3, s. 4 - 11/06/1998 2002, c. 17, Sched. F, Table - 01/01/2003; 2002, c. 22, s. 5 (1, 2) - 01/01/2003 2021, c. 4, Sched. 6, s. 31 (5) - 01/06/2021