HomeMy WebLinkAbout14 024 2014 Taxation By-law THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
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BY -LAW
NO. 2014 — 024
BEING A BY -LAW TO ADOPT THE ESTIMATES OF ALL SUMS REQUIRED
DURING THE YEAR TO STRIKE THE RATES OF TAXATION FOR THE YEAR
2014
WHEREAS Section 290 of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended provides that a local municipality shall in the year or the immediately
preceding year, prepare and adopt a budget including estimates of all sums
o required during the year for the purposes of the municipality;
AND WHEREAS Section 340 of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended, provides that the treasurer of a local municipality shall prepare a tax
roll for each year based on the last returned assessment roll for the year and that
the treasurer shall collect the taxes once the tax roll has been prepared;
AND WHEREAS Section 342 of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended, authorizes municipalities to pass by -laws providing for the payment of
taxes;
AND WHEREAS the amount of assessment entitled to benefit hereinafter
referred to as Residential, Multi- Residential, Commercial, Industrial, Farm and
Managed Forest are as follows:
Residential $1,333,232,153
Multi- residential 13,873,865
Commercial — Occupied 213,655,777
Commercial — Vacant 2,867,138
• Industrial — Occupied 88,139,168
Industrial- Vacant 5,726,246
Farm 289,204,213
Managed Forest 2,020,777
Total Taxable Assessment $1,948,719,337
Total Taxable Assessment for purpose of the BIA Levy $21,725,947
AND WHEREAS the amounts to be raised are as follows:
Municipality of Kincardine $ 9,411,020
County of Bruce 7,067,974
Bluewater District School Board 3,755,215
Bruce Grey Separate School Board 447,308
Conseil scolaire de district des ecoles Catholique
Du Sud -Ouest 15,973
Conseil scolaire de district du Centre Sud -Ouest 4,245
Education Tax shared as PIL, retained by Kincardine 2,495,743
Total Taxes to be Raised $23,197,478
BIA Total Taxes to be Raised $50,000
Page 2
2014 Taxation By -law
By -law No. 2014 -024
NOW THEREFORE the Council of The Corporation of the Municipality of
Kincardine ENACTS as follows:
• 1. THAT there shall be levied and collected upon the assessable lands and
buildings within The Corporation of the Municipality of Kincardine the
following rates for the year 2014:
Total Total Tax
Tax Ratio General Healthcare Municipal County School Rate
Residential 1.00000000 0.00486483 0.00023215 0.00509698 0.00382799 0.00203000 0.01095497
Multi- Residential 1.00000000 0.00486483 0.00023215 0.00509698 0.00382799 0.00203000 0.01095497
Commercial Occupied 1.23310000 0.00599882 0.00028627 0.00628508 0.00472030 0.01140296 0.02240834
Commercial - New 1.23310000 0.00599882 0.00028627 0.00628508 0.00472030 0.01140296 0.02240834
III Commercial Vacant 0.86317000 0.00419917 0.00020039 0.00439956 0.00330421 0.00798207 0.01568584
Commercial Vacant - New 0.86317000 0.00419917 0.00020039 0.00439956 0.00330421 0.00798207 0.01568584
Industrial Occupied 1.74770000 0.00850226 0.00040573 0.00890799 0.00669018 0.01560000 0.03119817
Industrial - New 1.74770000 0.00850226 0.00040573 0.00890799 0.00669018 0.01220000 0.02779817
Industrial Vacant 1.13600000 0.00552647 0.00026373 0.00579019 0.00434862 0.01014000 0.02027881
Industrial Vacant - New 1.13600000 0.00552647 0.00026373 0.00579019 0.00434862 0.01014000 0.02027881
Farmlands 0.25000000 0.00121621 0.00005804 0.00127424 0.00095700 0.00050750 0.00273874
Managed Forests 0.25000000 0.00121621 0.00005804 0.00127424 0.00095700 0.00050750 0.00273874
2. The tax rate for the Business Improvement Area shall be 0.00230140.
• 3. The dates for payment of taxes under this By -law shall be as follows:
DUE DATE of 3 installment September 2, 2014
DUE DATE of 4th installment December 1, 2014
4. A percentage charge of one and one - quarter (1.25 %) shall be imposed as
a penalty for non - payment of and shall be added to every tax installment
or part thereof remaining unpaid on the first day following the last day of
payment of each such installment and thereafter an additional percentage
charge of one and one - quarter (1.25 %) shall be imposed and shall be
added to every such tax installment or part thereof remaining unpaid on
the first day of each calendar month in which default continues up to and
including December of each year.
5. This By -law may be cited as the "2014 Taxation By -law ".
READ a FIRST and SECOND TIME this 19th day of February, 2014.
• READ a THIRD TIME and FINALLY PASSED this 19th day of February, 2014.
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Mayor Clerk