1998 Rate to Raise the 1997 Levies
13.(1)For the purposes of subsection 11 (2), the 1998 rate to raise the 1997 levies means a sum determined, in accordance with the following, for the property class and local municipality the property is in: 1. For each general or special 1997 levy that applied to property in the local municipality, determine the 1997 levy amount in accordance with subsection (2). 2. For each levy, determine the weighted assessment, in accordance with subsection (3), of property with respect to which the levy applied. 3. For each levy, determine the residential rate by dividing the 1997 levy amount, determined under paragraph 1, by the weighted assessment, determined under paragraph 2. 4. For each levy, determine a property class rate for each property class by multiplying the residential rate determined under paragraph 3 times the transition ratio for the property class. For the purposes of this paragraph, the transition ratio for the residential/farm property class shall be deemed to be 1 and the transition ratio for the farmlands property class and the managed forests property class shall be deemed to be .25. 5. For each property class, the 1998 rate to raise the 1997 levies is the sum of the property class rates determined under paragraph 4. However, a property class rate shall not be included if the total assessment, as set out in the assessment roll for 1998 as returned, for property in the property class in the local municipality with respect to which the levy applied is less than 50 per cent of the total assessment, as set out the assessment roll for 1998 as returned, for property in the property class in the local municipality taxable for municipal purposes. O. Reg. 7/99, s. 13 (1). (2)For the purposes of paragraph 1 of subsection (1), the 1997 levy amount for a levy shall be determined in accordance with the following: 1. Apply the mill rate for the levy to the total assessment, including business assessment, for property to which the levy applied other than property that is not taxable for municipal purposes for 1998. 2. For the purposes of paragraph 1, the assessment is the assessment set out in the assessment roll for 1997, as revised, but shall not include any changes resulting from, i. a decision of the Assessment Review Board or the Ontario Municipal Board rendered after December 31, 1997, or ii. an assessment made under section 33 or 34 of the Assessment Act made after December 31, 1997. 3. For the purposes of paragraph 1, the mill rate applied to the assessment for property that, for 1998, is in the farmlands property class or the managed forests property class, shall be multiplied by .25. 4. The amount determined under paragraph 1 for the general local levy shall be adjusted by the amount set out in Table 3 for the local municipality. The amount determined under paragraph 1 shall be increased if the amount set out in the Table is positive or decreased if it is negative. 5. The amount determined under paragraph 1 for the general upper-tier levy, if any, shall be adjusted by the amount set out in Table 3 for the upper-tier municipality. The amount determined under paragraph 1 shall be increased if the amount set out in the Table is positive or decreased if it is negative. 6. The 1997 levy amount is the amount determined under paragraph 1, as adjusted under paragraph 4 or 5. O. Reg. 7/99, s. 13 (2); O. Reg. 34/99, s. 2. (3)For the purposes of paragraph 2 of subsection (1), the weighted assessment of property with respect to which the levy applied shall be determined in accordance with the following: 1. For each property with respect to which the levy applied, multiply the assessment for the property, as set out in the assessment roll for 1998 as returned, by the transition ratio for the property class the property is in for 1998. 2. For the purposes of paragraph 1, the transition ratio for the residential/farm property class shall be deemed to be 1 and the transition ratio for the farmlands property class and the managed forests property class shall be deemed to be .25. 3. For the purposes of paragraph 1, the assessment for a property with respect to which section 368.1 of the Act applies shall be reduced by an amount equal to the assessment with respect to which the percentage reduction in subsection 368.1 (1) of the Act applies multiplied by the percentage reduction. 4. The weighted assessment of the property with respect to which the levy applied equals the sum of the amounts determined under paragraph 1. O. Reg. 7/99, s. 13 (3). Actual 1998 Education Rate