Adjusted 2001 tax rate 
4.0.1 (1) For the purposes of subsection 2.1 (3), the adjusted 2001 tax rate for the property means the rate determined under the following rules for the property class and local municipality the property is in: 1. For each general or special municipal levy for 2001 that applied to property in the local municipality, determine the 2001 levy amount under subsection (2). 2. Determine the total weighted assessment for the local municipality by adding the weighted assessment, as determined under subsection (3), for each property class to which the levy applied. 3. For each levy, determine the residential rate for 2001 by dividing the 2001 levy amount, referred to in paragraph 1, by the total weighted assessment determined under paragraph 2. 4. For each levy, determine a class rate for each property class for 2001 by multiplying the residential rate for 2001, as determined under paragraph 3, by the tax ratio for the property class for 2002. 5. For each property class, the adjusted 2001 tax rate is the sum of the class rate for 2001, as determined under paragraph 4, for the property class and the tax rate for school purposes prescribed under section 257.12 of the Education Act for, i. 2001, if the property is in the County of Grey, or ii. 2002, if the property is outside the County of Grey. 6. Despite paragraph 5, a class rate for a property class shall be included in the calculation of the adjusted 2001 tax rate only if at least 50 per cent of the sum of the assessments for properties in the property class, as set out in the assessment roll for 2002, as returned, relates to properties that are taxable for municipal tax purposes. O. Reg. 162/02, s. 5; O. Reg. 420/02, s. 2. (2) For the purposes of paragraph 1 of subsection (1), the 2001 levy amount shall be determined in the following manner: 1. Apply the tax rate for 2001 for each property class to the total assessment for property in the property class to which the levy applied. 2. For the purposes of paragraph 1, the total assessment for property in a property class is determined by, i. taking the sum of the assessments for each property in the property class, as set out in the assessment roll for 2002, as returned, and adjusting the sum for the changes in assessment that would produce the changes in taxes referred to in paragraphs 2 and 3 of subsection 372.2 (6) of the Act, if the property class is not subject to Part XXII.3 of the Act, or ii. taking the sum of the assessments for each property in the property class, as set out in the assessment roll for 2002, as returned, and adjusting the sum for the changes in assessment that would produce the changes in taxes referred to in paragraphs 2, 3, 5 and 6 of subsection 447.65 (2) of the Act, if the property class is subject to Part XXII.3 of the Act. 3. The 2001 levy amount is the sum of the amounts determined under paragraph 1 for the property classes. O. Reg. 162/02, s. 5. (3) For the purposes of paragraph 2 of subsection (1), the weighted assessment for each property class to which the levy applies is calculated using the formula, C × D in which, “C” is the sum of the assessments for properties in the property class to which the levy applies, as set out in the assessment roll for 2002, as returned, “D” is the tax ratio for the property class for 2002. O. Reg. 162/02, s. 5. (4) For the purposes of subsection (3), the assessment for a property in a property class shall be reduced by the same percentage of the assessment as the percentage reduction, if any, under section 368.1 of the Act in the tax rate applicable to the property for 2002. O. Reg. 162/02, s. 5.