Determination of Amount of Adjustment
6.1(1)The 1997-level taxes for a property class 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). 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), 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. 382/99, s. 1. (2)Subject to subsection (2.1), 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 (4) of Ontario Regulation 400/98 and add any further reduction specified for the municipality under any subsection of section 4 of that Regulation other than subsection 4 (3). 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 for the municipality set out in Table 1. O. Reg. 382/99, s. 1; O. Reg. 396/99, s. 1 (1); O. Reg. 498/99, s. 1 (1, 2). (2.1)If a by-law under section 368.2 of the Act applied to property in the commercial property class in a municipality, the education tax cut (class) for the commercial property class shall be determined as follows: 1. Determine the tax rates set for occupied property in the commercial property class in the by-law under section 368.2 of the Act. 2. Determine the portion of the 1999 assessment subject to the same tax rate as follows, i. 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 under section 368.2 of the Act 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, ii. otherwise, determine the assessment for all property subject to each tax rate for occupied property specified in the by-law under section 368.2 of the Act 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 portion of the commercial property class subject to that tax rate. 4. Total the amount of the tax determined under paragraph 3 for the commercial property class. 5. Total the amount of the assessment under paragraph 2 for the commercial property class. 6. Divide the amount determined under paragraph 4 by the amount determined under paragraph 5. 7. Subtract 0.033000 from the quotient determined under paragraph 5. 8. Divide the difference by 7. 9. Subtract the quotient determined under paragraph 8 from the quotient determined under paragraph 6. 10. Subtract from the amount determined under paragraph 9 any further reduction specified for the municipality under any subsection of section 4 of Ontario Regulation 400/98 other than subsection 4 (3). 11. Divide the amount determined under paragraph 10 by the quotient determined under paragraph 6. 12. Multiply the 1998 tax rate for school purposes levied by the municipality for each portion of the assessment in the commercial property class by the quotient determined under paragraph 11. 13. Determine the 1999 assessment as follows, i. 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 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, ii. otherwise, determine the assessment for all property subject to each tax rate for occupied property specified in the bylaw made under section 368.2 of the Act in the municipality, as set out on the 1999 assessment roll or rolls, as revised. 14. Multiply the tax rate determined under paragraph 12 by the 1999 assessment subject to each tax rate set out in the by-law made under section 368.2 of the Act. 15. Subtract the product determined under paragraph 14 from the amount determined under paragraph 1 for the assessment subject to each tax rate set out in the by-law under section 368.2 of the Act. 16. Add the amount set out in Table 1 as applied by the municipality for 1998 to each tax rate set out in the by-law under section 368.2 of the Act. O. Reg. 396/99, s. 1 (2); O. Reg. 498/99, s. 1 (3-6). (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 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. 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 quotient determined under paragraph 5. 8. Divide the difference by 7. 9. Subtract the quotient determined under paragraph 8 from the quotient determined under paragraph 5. 10. Subtract from the amount determined under paragraph 9 any further reduction specified for the municipality under any subsection of section 4 of Ontario Regulation 400/98 other than subsection 4 (3). 11. Divide the amount determined under paragraph 10 by the quotient determined under paragraph 5. 12. Multiply the 1998 tax rate for school purposes levied by the municipality for each of the commercial classes by the quotient determined under paragraph 11. 13. 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. 14. Multiply the tax rate determined under paragraph 12 by the 1999 assessment for each of the commercial classes. 15. Subtract the product determined under paragraph 14 from the amount determined under paragraph 1 for each of the commercial classes. 16. 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. 1 (7-10). (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. 1 (11).