HomeMy WebLinkAboutKIN 40-1332 Prepayment of Tax
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274 1332-
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BY-LA.W NO. ,1332
A By-Law to provide tor the prepar-ent ot Taxes.
WHEREAS it is provided by the Assessment Aot R.S.O.192~ seotion
111 sub-seotion 4 that the Counoil ot a Town may by By-Law
authoroze the Treasurer or Colleotor to reoeive in any year pay-
ments on aooount of taxes tor that year in advanoe of the date
fixed by By-LaW for the par-ent of any installment and to allow
a disoount for suoh payment;-
Be it thereftre enaoted and it is herby enaoted by the
Counoil of the Corporation of the Town of Kinoardine as follows;-
(1) The Treasurer may reoeive in the year 1941 payments on
aooount of the taxes in advanoe of the date due and he is hereby
authorized to allow a disoount on suoh taxes at a rate of disoount
aooording to the following sohedule.Whioh approximates as nearly
as may be the rate of four per oent per Annum for eaoh period,
stated,notwithstanding that suoh taxes have not been levied and
that the Assessment Boll for the year 1941 has not been adopted
by the Counoil when any suoh advanoe payment is made. The said
Sohedule of disoounts allowed for the different periods of
payment shall be as follows;-
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.Amount of Janll&ry ll'ebuary Maroh April
certifioate. 1st to 16 to 31 1st to 16 1st to 16 1st to 16
$ 10 $ 9.83 $ 9.86 $ 9.8'l $ 9.90 $ 9.96
$ 60 $49.16 ~9.25 $49.35 $49.60 ~9.'16
$ 100 $98.30 $98.60 $98.'10 $99.00 $99.60
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The oost of a oertifioate for any other amount than the
above shall be in the same proportion as the above oost bears to
the amount ot eaoh oertifioate respeotivelY, it the Counoil should
hereatter deoide to issue prepaymnet oertifioates for amounts other
than the above amounts,
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The colleojor for the Town shall deliver or Mail postpaid to
eaoh ratepayer of the Town of Kinoardine in aooordanoe with seotion
107 of the Assessment Aot.a notioe on whioh shall be written or
printed a oon8ise statement of the time and manner of payment and the
rate of diseountto be allowed and at any time within tourteen dayS
after suoh notioe hos first been given any ratepayer may take
advantage of this By-Law regarding prepayment and disoount allowed I
hereby.
(3) Tax prepayment Certifioates shall be sold during the Months
of January,ll'ebruary,Maroh and April. only in the year 1941,and on
presentation of any suoh oertifioate or oertifioates to the Colleotor
on or before the date when the 1941 taxes beoome due. the purchaser \
shall be allowed a oredit equal to the faoe value of eaoh such' I
oertifioate so presented,on aooount of taxes levied against the rate- .
payer so presenting the oertifioate in the year 1941.
( 2)
Signed,Sealed and Finally passed this 6th day Deoember 1940.
..}.-4)J.~.
iJ' Mayor.
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