Special rule, eligible property under s. 331 of the Act
 22. (1) None of the following properties that becomes taxable for municipal and school purposes in 2003 or a subsequent year is eligible property for the purposes of section 331 of the Act in the year the property becomes taxable:  1.  Property of a municipal electricity utility as defined in section 88 of the Electricity Act, 1998. 2.  Property acquired under a transfer order under subsection 34 (1) of the Social Housing Reform Act, 2000. 3.  Property of a non-profit housing corporation referred to in subsection 13 (1) of the Housing Development Act.  O. Reg. 73/03, s. 22 (1). (2) Subject to subsection (3), the following properties are deemed to be eligible property for the purposes of section 331 of the Act: 1.  A vacant parcel of land that is severed from a larger parcel of land or that is a lot in a subdivided parcel of land, if the taxation year is the first year for which the parcel is included as a separate parcel on the assessment roll. 2.  Despite subsection 329 (10) of the Act, property to which section 447.70 of the Old Act or section 331 of the Act applied in the previous year as a result of an assessment made under subsection 34 (2) of the Assessment Act or a severance or subdivision, if clause 329 (7) (a) of the Act applies to the property for the taxation year. 3.  Property in respect of which an assessment could have been made under section 34 of the Assessment Act in the previous year if, i.  making the assessment in the previous year would have resulted in the application to the property of clause 447.65 (8) (a) of the Old Act or clause 329 (7) (a) of the Act, and ii.  the appropriate change is made on the assessment roll for the taxation year.  O. Reg. 450/03, s. 2. (3) None of the following is eligible property for the purposes of section 331 of the Act: 1.  Property that would otherwise be eligible property only because of a change in classification from one class in the commercial classes to another class in the commercial classes or from one class in the industrial classes to another class in the industrial classes. 1.1.  Property that would otherwise be eligible property only because of a change in classification and that satisfies the following conditions: i.  After the change in classification, the property is classified in a single class of real property. ii.  In the previous year, portions of the property were deemed to be separate properties under subsection 327 (3) of the Act. iii.  In the previous year, the portions of the property described in subparagraph ii were subject to Part IX of the Act. 1.2  A portion of a property, if that portion would otherwise be eligible property only because of a change in classification and if that portion satisfies the following conditions: i.  After the change in classification, the portion is deemed to be a separate property under subsection 327 (3) of the Act. ii.  After the change in classification, the portion is in the same class of property as in the previous year. iii.  In the previous year, the portion was subject to Part IX of the Act. 2.  A severed parcel that is described in subsection 26 (2), (3) or (4). 3.  A severed parcel that fails to satisfy the minimum size requirements for development under the relevant municipal zoning by-law. O. Reg. 105/08, s. 2; O. Reg. 160/09, s. 5; O. Reg. 342/12, s. 3. (3.1) Paragraphs 1.1 and 1.2 of subsection (3) are deemed to have applied in 2001 and subsequent taxation years. O. Reg. 342/12, s. 4. (3.2) However, subsection (3.1) does not apply with respect to a property for a taxation year before 2008, (a)  if the assessment corporation provided a list of comparable properties to the local municipality under subsection 331 (8) of the Act or subsection 447.70 (8) of the old Act; and (b)  if it did so as a result of a change in classification of the property as described in paragraph 1.1 or 1.2 of subsection (3). O. Reg. 342/12, s. 4. (4) Revoked: O. Reg. 62/17, s. 11.