Determination of Amount of Adjustment
9.3(1)The 1997-level taxes for a property in one of the commercial classes shall be reduced by the amount determined as follows: 1. If the commercial classes in a municipality comprise only the commercial property class, determine the education tax cut (class) in accordance with subsection (2) or (3), as the case may be. 2. If the commercial classes in a municipality comprise the commercial property class and another property class, determine the education tax cut (class) in accordance with subsection (4). 3. Divide the education tax cut (class), determined under paragraph 1 or 2, as the case may be, by the 1997-level taxes with phase-in (class), as defined in subsection 5 (1). 4. Multiply that quotient by the 1997-level taxes with phase-in (property), as defined in subsection 5 (1). O. Reg. 363/00, s. 1. (2)Subject to subsections (3) and (4), if the commercial classes in a municipality comprise only the commercial property class, the education tax cut (class) shall be determined as follows: 1. Determine the 2000 tax rate for the commercial property class under section 7 of Ontario Regulation 400/98. 2. Determine the 1998 tax rate for the commercial property class under subsection 4 (1) of Ontario Regulation 400/98 or Table 9, as the case may be. 3. Subtract the tax rate determined under paragraph 1 from the tax rate determined under paragraph 2. 4. Determine the 2000 assessment as follows: A. If a reduction under section 368.1 of the Act applies, determine the assessment of all property in the commercial property class in the municipality, as set out on the 2000 assessment roll or rolls, as revised, and reduce it by an amount equal to the assessment with respect to which the percentage reduction in section 368.1 of the Act applies multiplied by that percentage reduction. B. Otherwise, determine the assessment for all property in the commercial property class in the municipality, as set out on the 2000 assessment roll or rolls, as revised. 5. Multiply the tax rate determined under paragraph 3 by the 2000 assessment. 6. Add the amount for the commercial classes for the municipality set out in Table 1. O. Reg. 363/00, s. 1. (3)If a by-law under section 368.2 of the Act applies to property in the commercial property class in a municipality for 2000, the education tax cut (class) for the commercial property class shall be determined as follows: 1. Determine the 2000 tax rate under section 7 of Ontario Regulation 400/98. 2. Determine the 1998 tax rate under subsection 4 (1) of Ontario Regulation 400/98 or Table 9, as the case may be. 3. Subtract the tax rate determined under paragraph 1 from the rate determined under paragraph 2. 4. Determine the 2000 assessment as follows: A. If a reduction under section 368.1 of the Act applies, determine the assessment of all property subject to each tax rate for occupied property specified in the by-law made under section 368.2 of the Act in the municipality, as set out on the 2000 assessment roll or rolls, as revised, and reduce it by an amount equal to the assessment with respect to which the percentage reduction in section 368.1 of the Act applies multiplied by that percentage reduction. B. Otherwise, determine the assessment for all property subject to each tax rate for occupied property specified in the by-law made under section 368.2 of the Act in the municipality, as set out on the 2000 assessment roll or rolls, as revised. 5. Multiply the tax rate determined under paragraph 3 by the 2000 assessment subject to each tax rate set out in the by-law made under section 368.2 of the Act. 6. Add the amount for the commercial classes for the municipality set out in Table 1. O. Reg. 363/00, s. 1. (4)If the commercial classes in a municipality comprise the commercial property class and another property class, the education tax cut (class) for each of the commercial classes shall be determined as follows: 1. Determine the 2000 education tax rate for each of the commercial classes under section 7 of Ontario Regulation 400/98. 2. Determine the 1998 education tax rate for each of the commercial classes under subsection 4 (1) of Ontario Regulation 400/98 or Table 9, as the case may be. 3. Subtract the tax rate determined under paragraph 1 for each of the commercial classes from the tax rate determined under paragraph 2. 4. Determine the 2000 assessment as follows: A. If a reduction under section 368.1 of the Act applies, determine the assessment of all property in each of the commercial classes in the municipality, as set out on the 2000 assessment roll or rolls, as revised, and reduce it by an amount equal to the assessment with respect to which the percentage reduction in section 368.1 of the Act applies multiplied by that percentage reduction. B. Otherwise, determine the assessment for all property in each of the commercial classes in the municipality, as set out on the 2000 assessment roll or rolls, as revised. 5. Multiply the tax rate determined under paragraph 3 by the 2000 assessment for each of the commercial classes. 6. Add the amount set out in Table 1 as distributed by the municipality for 1998 to each of the commercial classes. O. Reg. 363/00, s. 1. (5)Subsections (1) to (4) also apply, with necessary modifications, with respect to property in one of the industrial classes. O. Reg. 363/00, s. 1. (6)The 1997-level taxes for a property in the multi-residential property class shall be reduced by an amount obtained by multiplying 0.00046 by the assessment for the property, as set out on the 2000 assessment roll or rolls, as revised. O. Reg. 363/00, s. 1. (7)In this section, “2000 assessment roll or rolls, as revised” means the 1999 assessment roll or rolls for taxation in 2000, revised as of the date specified by the upper-tier or single tier municipality under subsection 31 (6) for 2000. O. Reg. 363/00, s. 1. PART IV   MUNICIPAL TAX ADJUSTMENT FOR 1998 UNDER DIVISION B OF PART XXII.2 OF THE ACT Adjustments under Paragraph 5 of Subsection 447.47 (1)