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HomeMy WebLinkAboutBRU 94 002 interim tax levy THE CORPORATION OP THE TOWNSHIP OP BRUCE BY-LAW NO. 94-2 -- BEING A BY-LAW to provide for an Interim Tax Levy before the adoption of the yearly estimates. WHEREAS the Municipal Act, R.S.O. 1990, Chapter M.45, Section 156(1)(2), enables a Municipal Council to pass a by-law for interim tax levy, the sum of which levied on the whole assessment shall not exceed 50 per cent of that which would be produced by applying to such assessment the total rate for all purposes levied to such assessment the total rate for all purposes levied in the preceding year, on residential real property of the public school supporters according to the last revised roll. AND WHEREAS the Corporation of the Township of Bruce deems it expedient to pass such a by-law. NOW THEREPORE the Corporation of the Township of Bruce enacts as follows: 1. That 22.295 be levied on an interim basis on the rateable assessment according to the 1994 assessment as provided by the Regional Assessment Office. 2. That the interim levy be collected in two equal or nearly equal installments. 3. That the demand date of the interim levy shall be February 8th, with due dates of March 1st and May 2nd. 4. That penalties shall be added to unpaid taxes at the rate of 1.25 per cent on the first day of default and on the second business day of each calendar month thereafter. 5. That this by-law shall come into force and take effect on the day of final passing. ~. By-law introduced and read a PIRST time this TWENTY-FIFTH day of JANUARY, 1994. By-law read a SECOND time this TWENTY-FIFTH day of JANUARY, 1994. By-law read a THIRD time and finally passed, signed, sealed, and .. "c1ii: ......-FIFTH do, of "'U"Y'2P¿~ ~ , -i;...~.:ct.ERK REEVE - ..{I~---,------ . -..... .::..-.-