HomeMy WebLinkAboutTWP 81 017 Penalty unpaid taxes
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BY-LAW
81- I 7
THE CORPORATION OF THE TOWNSHIP OF KINCARDINE
Being a By-Law to establish a Penalty Charge for non-payment of Current
Taxes.
WHEREAS under the provisions of The Municipal Interest and Discount Rates Act,
1981 a municipality may impose penalties on unpaid and overdue taxes which
Wërë levied in the current calendar year instead of and in lieu of imposing
such penalties as are authorized to be imposed by Section 527 of The Municipal
Act.
AND WHEREAS overdue taxes are those taxes which have been levied in the
current calendar year which are due and unpaid;
AND WHEREAS the prime rate of interest of the Royal Bank of Canada, on this
8th day of September 1981 is 2~;
NOW THEREFORE the Council of the Corporation of the Township of Kincardine
enacts as follows:
1. That the penalty charge to be imposed on due and unpaid taxes shall
be at the rate of 23 and 3/4% per annum as authorized under the pro-
visions of The Municipal Interest and Discount Rates Act, 1981
2. That the rate of 23 and 3/4% per annum as a penalty for non-payment of
taxes shall be imposed on the first day of default and on the first day
of each calendsr month thereafter in which defualt continues, but not
after December 31 of the year during which such taxes were levied.
3. That the clerk shall give notice of this by-law in accordance with
Section 527, subsection 6 of The Municipal Act.
4. That the penalty charge imposed by this by-law for the year 1981 shall
take effect on the fifteenth day after the day of giving notice in
accordance with Section 527, subsection 6 of The Municipal Act.
5. That any penalty authorized to be imposed for non-payment of taxes
due under Section527 of The Municipal Act shall cease to have effect on
the day the penalty charge imposed by this by-law takes effect.
Read a firat, aecon and third time and finally pasaed this 8th day of
September 1981
THE CORPORATION OF THE TOWNSH¡P·or KI~CARDINE
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