By-law # 2005-13 Set Clawback Percentage By-law

THE CORPORATION OF THE TOWNSHIP OF GORDON
BY-LAW NO. 2005-13

WHEREAS the Council of the Township of Gordon wishes to take certain action relating to property tax issues for the year 2005 and wishes to adopt certain Provincial Tools made available to the Township by the provisions of Section 329.1 of the Municipal Act, 2001,S.O. 2001,c.25, as amended and by other Statues;

NOW THEREFORE THE COUNCIL OF THE TOWNSHIP OF GORDON hereby enacts as follows:
1. For the taxation year 2005 and thereafter, the 5 % tax increase cap is hereby changed to 10% for multiple residential, commercial, and industrial properties.
2. For the taxation year 2005 and thereafter, there shall be a minimum annual increase of 5% Current Value Assessment level taxes for capped properties.
3. For the taxation year 2005 and thereafter, capped and clawed-back properties within $250 of Current Value Assessment taxes are hereby moved directly to Current Value Assessment taxes.
4. For the taxation year 2005 a minimum Current Value Assessment tax of 70% of Current Value Assessment for newly constructed properties and new-to-class properties is hereby created.
5. The township’s Clerk/Treasurer and Tax Collector are hereby authorized to take all necessary actions to provide for the implementation of the items set out in this by-law.
6. This by-law shall come into force and take effect immediately upon the final passing thereof.

AND WHEREAS it is necessary to establish a by-law to set “Clawback” percentages for the 2005 taxation year for the Commercial, Industrial, and Multi-Residential property classes and to adopt the new provincial tools for 2005 property tax policy

The Council of the Corporation of the Township of Gordon enacts as follows:

For the 2005 taxation year, the percentages by which property tax decreases are limited for the commercial, industrial, and multi-residential property classes are as follows:

Multi-Residential 100%
Commercial 100%
Industrial 100%

READ A FIRST, SECOND AND THIRD TIME ENACTED PASSED IN OPEN COUNCIL
The 5th day of July, 2005
...................................................................
REEVE

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CLERK

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