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HomeMy WebLinkAboutTIV 94 007 mill rates 1994 THE CORPORATION OF THE VILLAGE OF TIVERTON BY-LAW NUMBER 1994-07 A By-law to set the mill rates, rate of interest and penalty and due dates for the year 1994. . WHEREAS Chapter M45, Section 155 of the Municipal Act, R.S.O. 1990 requires the Council of every municipality in each year to prepare and adopt estimates of all sums required during the year for municipal purposes, including a sum sufficient to pay all debts of the corporation falling due within the year, and including the school and upper tier purposes. AND WHEREAS the Council of the Village of Tiverton has considered the estimates of the requirements of the municipality, and it is necessary that the following sums be raised by means of taxation for the year of 1994. For the Village of Tiverton $139,014.00 $45,846.00 For the County of Bruce For the Elementary School Public $113,991. 00 For the Secondary School Public $88,725.00 For the Elementary School Separate $13,587.00 For the Secondary school Separate $6,541. 00 AND WHEREAS the assessment of each of these bodies for which it is necessary to levy rates is as follows: . RESIDENTIAL COMMERCIAL For the Village of Tiverton 6,885,740 770,938 For the County of Bruce 6,885,740 770,938 For the Public School Elementary and Secondary 6,262,236 737,765 For the Separate School Elementary and Secondary 623,505 33,173 page 2, By-Law 1994-07 NOW THEREFORE the Council of the Village of Tiverton enacts as follows: 1. That the estimates as listed above be adopted. 2. That there shall be levied and collected upon the assessable property and businesses within the Corporation of the Village of Tiverton the following rates for the year 1994. . 52.1531 mi 11 s for Public Residential and Farm 54.1011 mi 11 s for Separate Residential and Farm 61.3574 mi 11 s for Public Commercial and Business 63.6484 mi 11 s for Separate Commercial and Business to be divided as follows: Residential Commercial Public Public I General Purpose 17.839 20.987 County 5.8831 6.9214 Elementary Public 15.987 18.809 Secondary Public 12.444 14.640 TOTAL 52.1531 61.3574 Residential Separate Commercial Separate General Purpose 17.839 20.987 County 5.8831 6.9214 24.126 Elementary Separate 20.507 9.872 11.614 Secondary Separate I II Ii. II I ! TOTAL 54.1011 63.6484 That the rate of penalty on overdue current taxes be levied at 1.25% per month, 15% per annum. Penalty to start after the 1st due date of the first instalment. That the due dates for the payment of taxes be as follows: 1st Interim instalment due March 15th, 1994. 2nd Instalment due June 15th. 1994. 3rd instalment due September 15th, 1994. 4th instalment due November 15th, 1994. l. Any surplus/deficit occurring from water estimates will be put into or taken from the water reserve. 2. Any surplus/deficit occurring from sewage estimates will be put into or taken from the sewage reserve. page 3, By-law 1994-07 3. Any surplus/deficit occurring at December 31, 1994 from estimates will be put to or taken from Unapplied Capital 4. Upon the passing of this by-law, By-Law # 1992-10, known as the by-law to provide for any surplus or deficit moneys from estimates is hereby repealed. 5. This by-law shall come into force and effect upon the date of the final passing thereof and may be cited at the "1994 Budget By-Law". . Read a First, and Second time this ~l( day of May, 1994 Read a Third Time and finally passed, signed and sealed this day of May, 1994. ,I .!fç.. -- ~LÄ~~J Clerk , , !i ! Ii . VILLAGE PURPOSES Revenue raised through mill rate b'58571(0 17.839 x 17.8J!t $122,834.72 realty ; '-- -' 20.987 x 559,453 11,741.24 commercial 20.987 x 211,485 4,438.44 business Telephone/Telegraph 698.00 2,923.74 113,278.00 G.I.L. . Grants water charges water debenture sewer charges sewer debenture 32,914.00 6,320.00 60,173.00 10,067.00 fees & services 34,670.00 "--__._...F TOTAL REVENUE 400,058.14 EXPENSES administration 65,123.00 by-law 14,900.00 cemetery 5,000.00 conservation 2,928.00 environmental 38,758.00 planning 3,124.00 streetlights 8,000.00 recreation 25,780.00 CPO 500.00 general government 17,240.00 library 3,119.00 medical centre 4,600.00 . road operating 54,472.00 road construction 48,600.00 sewer 65,581. 00 water 39,121.00 EXPENSE TOTAL 396,846.00 contingency 3,212.14 c·--- \ . J. ;-~ ~/