Determination of Amount of Adjustment
9.1(1)The 1997-level taxes for a property in one of the commercial classes shall be reduced 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). 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 (3). 3. Divide the education tax cut (class), as determined under paragraph 1 or 2, as the case may be, by the 1997-level taxes with phase-in (class), as defined in subsection 8 (1). 4. Multiply that quotient by the 1997-level taxes with phase-in (property), as defined in subsection 8 (1). O. Reg. 382/99, s. 1. (2)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 1999 rate adjustment for a municipality in accordance with subsection 4 (3) of Ontario Regulation 400/98 and add any further reduction specified for the municipality under any subsection of section 4 of that Regulation. 2. Determine the 1999 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 1999 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 1999 assessment roll or rolls, as revised. 3. Multiply the 1999 rate adjustment by the 1999 assessment. 4. Add the amount for the commercial classes in the municipality set out in Table 1. O. Reg. 382/99, s. 1; O. Reg. 498/99, s. 2 (1, 2). (3)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 tax rate set by the municipality in 1998 in each of the commercial classes. 2. Determine the 1999 assessment for each of the commercial classes 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 1999 assessment roll or rolls, as revised, and reduce it by the 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 1999 assessment roll or rolls, as revised. 3. Multiply the tax rate under paragraph 1 by the amount of the assessment for each of the commercial classes. 4. Total the amount of the tax determined under paragraph 3 for all of the commercial classes. 5. Total the amount of the assessment under paragraph 2 for all of the commercial classes. 6. Divide the amount determined under paragraph 4 by the amount determined under paragraph 5. 7. Subtract 0.033000 from the product determined under paragraph 6. 8. Divide the difference by 7. 9. Multiply the quotient determined under paragraph 5 by 0.98. 10. Subtract the quotient determined under paragraph 8 from the product determined under paragraph 9. 11. Subtract from the amount determined under paragraph 10 any further reduction specified for the municipality under section 4 of Ontario Regulation 400/98. 12. Divide the amount determined under paragraph 11 by the quotient determined under paragraph 5. 13. Multiply the 1998 tax rate for school purposes levied by the municipality for each of the commercial classes by the quotient determined under paragraph 12. 14. Determine the 1999 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 1999 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 1999 assessment roll or rolls, as revised. 15. Multiply the tax rate determined under paragraph 13 by the 1999 assessment for each of the commercial classes. 16. Subtract the product determined under paragraph 15 from the amount determined under paragraph 1 for each of the commercial classes. 17. Add the amount set out in Table 1 as distributed by the municipality for 1998 to each of the commercial classes. O. Reg. 382/99, s. 1; O. Reg. 498/99, s. 2 (3-6). (4) Subsections (1) to (3) also apply, with necessary modifications, with respect to a property in one of the industrial classes. O. Reg. 382/99, s. 1. (5)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 1999 assessment roll, as returned. O. Reg. 382/99, s. 1. (6)In this section, “1999 assessment roll or rolls, as revised” means the 1999 assessment roll or rolls revised as of the date specified by the upper-tier or single tier municipality under subsection 31 (6) for 1999. O. Reg. 498/99, s. 2 (7). PART III.2   SCHOOL TAX REDUCTION FOR 2000 UNDER DIVISION C OF PART XXII.2 OF THE ACT