HomeMy WebLinkAboutKIN 47 1436 Prepayment of Taxes
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BY-IAW 1436
1 BY-L.\W to provide for the prepl.'.yment
WH~_S: it is ~z6vided by the Assessment Aot R.S.O. 1937_
Seotion 113 Sub-seotion 4 thatthé Counoil of a Town .y by By-LaW
authorize the Treasurer or oolleotor to reoeive in an year payments on
/j,coount of the Taxes for thet year in advance of the ate fixed by By-Law
for the pa.yment of any instllllment aDd to allow 8 di oount for suoh
prepa,yment: -
Be it therefore enacted and it is hereby ena.cted
Corpora:t;ion of the Town of 1înca.rd1ne as fOllOws:-
(1) The Treasurer lI18.y receive in the year 1948 Payme s on account of the
Taxes in advÐ,noe of the da.te due and he is hereby p,u orized to allow e.
discount on such taXes at a, rate of discount acoordi' to the following
sohedule, whioh approximates a.s nearl 11.6 may be the te of' four peroent
per annum for eaoh period sta ted, notwithstanding that suoh taxes have .not »
been levied and that the Assessment roll for the yea. 1948 has not been
~dopted by the Council WIlen suohadvance payment is de. Theaaid sohedule
of disoounts allowed for the :different periods of pent shall be as follows:
Council of the
COST COST COST CO T COST
AMOUNT 1st .January 1fu. January 1st Febromoy 1st April
10 10 10 10
. 15th January 31st January 15th Febroary 13th April
'. $ 10.00 $ 9.83 $ 9.85 $ 9.87 $ 9.95
50.00 49.15 49.25 49.34 49.75
100.00 98.30 98.50 98.70 99.50
The Cost of a oertifioate for /J.ny other amounts t an the above shall be
in the same proportion as the above cost bears to th amount of each cer-
tificate respectively, if the Council should hereaft deoide to issue
prepayment certificates for amounts other than the a ve amoúnts.
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(2) The Collector for the Town shall deliver or mail ostpaid to each ra, te-
payer of the Town of mtnoardine in aocordanoe with Seotion 109 of the
Assessment Act, a notice on which shall be written 0 printed a oonsioe
statement of the time and manner of payment and the ate of disoount to be
allowed and at any time within fourteen days after s ch notioe has first
been given any ratepayer may take advant'age of this -La,w regarding
prepayment and disoount allowed hereby.
(3) Tax Prepa.yment Certifioates shall be sold during
February, March and April, only in the year 1948. an
any suoh oertifioate. to the collector on or before
taxes becane due. the purohaser shall be allowed a c
va~e of each suoh certifioate so presented, on aoco
against the ratepayer so presenting the certificate
Signed, Sealed and Finally passed this If
the months of January_
on presentation of
e date when the 1948
edit equal to the faoe
t of taxes levied
n the year 1948.
y of Deoember 1947 A.D.
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