8. For 1998, 1999 and 2000, Division B of Part XXII.2 of the Act applies in the Region, subject to the following modifications: 1. For the purposes of determining the adjustments to be made under paragraph 5 of subsection 447.47 (1) of the Act for 1998, the amount referred to in subsection 11 (1) of Ontario Regulation 7/99 shall be determined by multiplying the municipal tax adjustment by the 1997-level taxes with phase-in where, “Municipal tax adjustment” means the fraction set out in paragraph 2 for the property class and municipality the property class is in; and “1997-level taxes with phase-in” means the 1997-level taxes for municipal and school taxes determined under paragraph 2 of subsection 447.47 (1) of the Act as adjusted under paragraph 3 of subsection 447.47 (1) of the Act. 2. The municipal tax adjustments for 1998 for the purposes of paragraph 1 are set out in the following Table: TABLE 1998 PRESCRIBED MUNICIPAL TAX CHANGE   ADJUSTMENTS FOR THE REGION OF PEEL  Municipality

Fraction for Property Class


Multi-residential

Commercial

Industrial


Mississauga, C

0.006812

0.003051

0.003239


Brampton, C

0.004837

0.002274

0.002351


Caledon T

0.002071

-0.011377

-0.024373 2.1 For the purpose of determining the adjustments to be made under paragraph 5 of subsection 447.47 (1) of the Act for 1999, the adjustment referred to in subsection 16.2 (1) of Ontario Regulation 7/99 shall be determined by multiplying the municipal tax adjustment by the 1997-level taxes with phase-in where, “Municipal tax adjustment” means the fraction set out in paragraph 2.2 for the property class and the municipality the property class is in; and “1997-level taxes with phase-in” has the same meaning as in paragraph 1. 2.2 The municipal tax adjustment for 1999 for the purposes of paragraph 2.1 are set out in the following Table: TABLE 1999 PRESCRIBED MUNICIPAL TAX CHANGE   ADJUSTMENTS FOR THE REGION OF PEEL  Municipality

Fraction for Property Class


Multi-
Residential

Commercial

Industrial


Mississauga, C

-0.004215

-0.001895

-0.002011


Brampton, C

0.016959

0.006905

0.006028


Caledon, T

0.013871

0.011908

0.014850 2.3 For the purpose of determining the adjustments to be made under paragraph 5 of subsection 447.47 (1) of the Act for 2000, the adjustment referred to in subsection 16.4 (1) of Ontario Regulation 7/99 shall be determined by multiplying the municipal tax adjustment by the 1997-level taxes with phase-in where, “Municipal tax adjustment” means the fraction set out in paragraph 2.4 for the property class and the municipality the property class is in; and “1997-level taxes with phase-in” has the same meaning as in paragraph 1. 2.4 The municipal tax adjustments for 2000 for the purposes of paragraph 2.3 are set out in the following Table: TABLE 2000 PRESCRIBED MUNICIPAL TAX CHANGE   ADJUSTMENTS FOR THE REGION OF PEEL  Municipality

Fraction for Property Class


Multi-
Residential

Commercial

Industrial


Brampton, C 

0.0197648

0.0086605

0.0091590


Caledon, T

0.0098914

-0.0002155

-0.0076406


Mississauga, C

0.0042048

0.0019084

0.0032827 3. For the purposes of paragraph 2 of subsection 447.51 (4) of the Act, the percentage for a property in the commercial property class shall be 6.25 per cent for 1998 and 10 per cent for 1999. 4. For the purposes of paragraph 2 of subsection 447.51 (4) of the Act, the percentage for a property in the industrial property class shall be 6.25 per cent for 1998 and 10 per cent for 1999. 5. Despite subsection 25 (3) of Ontario Regulation 7/99, the percentage determined under paragraph 2 of subsection 447.51 (4) of the Act for 1998 tax decrease phase-ins, i. for the 1998 taxation year, shall not be increased or decreased to eliminate any surplus or deficiency, and ii. for the 1999 taxation year, shall be increased or decreased to eliminate any surplus or deficiency determined for the 1998 and 1999 taxation years. O. Reg. 230/99, s. 8; O. Reg. 399/99, s. 1; O. Reg. 512/00, s. 1.