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TO: |
Mayor and Members of Council |
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FROM: |
Barb
Cribbett, Treasurer |
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PREPARED BY: |
Paul
Wealleans, Director, Taxation |
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DATE OF MEETING: |
2005-Dec-05 |
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SUBJECT: |
2006 Interim Tax Levy and By-law |
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RECOMMENDATIONS:
THAT Council authorize an interim
tax levy for 2006;
AND THAT the attached by-law be
passed to authorize the 2006 interim tax levy.
PURPOSE:
This report is to provide the authority
for the Town of
BACKGROUND:
The Municipal Act, 2001
authorizes the council of a lower tier municipality, prior to the adoption of
the estimates for the year, to pass a by-law to levy interim taxes against
rateable properties in the municipality.
OPTIONS/DISCUSSIONS:
Under the provisions of the Municipal Act, 2001 municipalities may pass a by-law to levy an interim amount against rateable properties such that the interim amount raised does not exceed 50% of the amount raised for all purposes in the previous year.
The Act provides that interim taxes are to be based on 50% of the annualized taxes levied on a property in the previous year. Annualized taxes reflect taxes levied against the property at final billing as well as adjustments due to supplementary assessments and assessment appeals. For new properties that were not assessed in 2005 but are on the assessment roll for 2006, 50% of the 2005 tax rate for that class will be applied to the property’s assessed value to generate an interim levy.
The Municipal
Act, 2001 requires that an interim tax levy by-law be passed in the year to
which it applies or in December of the previous year if the by-law provides
that it does not come into force until a specified day in the following year.
The Town of
The three interim instalment dates for 2006 as included in the attached by-law are February 21st , March 21st and April 25th . Should there be any delays in the billing process due to the province-wide reassessment for 2005, it could require revised instalment dates. If revised instalments are required on dates other than those as set out in the by-law, Council will be informed early in 2006.
The 2006 final tax rates will be established following the approval of the budget by Council as well as the finalization of financial requirements of York Region and the school boards. The interim levy will be deducted from the final levy.
FINANCIAL CONSIDERATIONS:
The interim levy bylaw is required to provide for the
revenue requirements of the Town prior to the finalization of the 2006 budget
and tax levy.
BUSINESS UNITS CONSULTED/AFFECTED:
Legal Services Department
ATTACHMENTS:
Appendix
A, “2006 Interim Levy By-law”
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Andy Taylor, Commissioner, Corporate Services |
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Barb Cribbett, Treasurer
Q:\Finance and Administration\Finance\SHARED\2005
General Committee Finance\0539 2006 Interim Tax Levy and Bylaw.doc
Appendix A
2006 Interim Tax
Levy By-law
A By-law to Levy Property
Taxes Prior to the Adoption of Estimates
WHEREAS
the Council of the Corporation of the Town of
AND
WHEREAS the Council of The Corporation of the Town of Markham wishes to impose
an interim levy as authorized by Section 317 of the Municipal Act, 2001,
S. O. 2001, c. 25, as amended;
AND
WHEREAS section 342 of the Municipal Act, 2001 authorizes a council to
pass by-laws for the payment of taxes by instalments and the date or dates in
the year for which the taxes are imposed on which the taxes or instalments are
due;
AND
WHEREAS section 345 of the Municipal Act, 2001 authorizes a local
municipality to pass by-laws to impose late payment charges for the non-payment
of taxes or any instalment by due date;
NOW
THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF
1.
The Council of the Corporation of The Town of
Markham hereby imposes an interim levy in 2006 in an amount of 50% of the total
annualized taxes for municipal and school purposes levied on the property in
the previous year.
2. The Treasurer of the Corporation of The
Town of Markham shall give to each person so taxed a printed notice specifying
the amount of taxes payable. The
Treasurer is authorized to mail the notice, or cause it to be mailed.
3. Taxes may be levied under this by-law
on a property that is rateable for local municipality purposes for 2006 even if
the property was not rateable for local municipality purposes for 2005,
including assessment of property that is added to the assessment roll after the
by-law is passed at a rate not to exceed 50% of the 2005 tax rate for the property
class in which the property is assessed.
4. Taxes levied by this by-law shall be
due and payable in equal instalments as per the schedule following and shall be
paid to the Treasurer at the Municipal Offices, 101 Town Centre Boulevard, Markham, Ontario, L3R 9W3. Upon payment of any applicable fee, and if
paid on or before the due date imprinted on the bill, taxes may also be paid at
most chartered banks in the
MONTHLY RESIDENTIAL
PRE-AUTHORIZED PAYMENT BILLS
Due in five (5)
equal instalments on the 1st day in each of the months of February,
March, April, May and June 2006.
RESIDENTIAL NON
PRE-AUTHORIZED, FARMLAND AND PIPELINE BILLS
Due in three (3)
equal instalments on the 21st day of February 2006, the 21st day of March, 2006, and the 25th day of April, 2006.
MULTI-RESIDENTIAL,
ALL COMMERCIAL AND ALL INDUSTRIAL BILLS
Due in three (3)
equal instalments on the 21st day of February 2006, the 21st day of March, 2006, and the 25th day of April, 2006.
5. If the taxes of any class or instalment
thereof so levied in accordance with this by-law remain unpaid on the due date,
a penalty of one and one quarter per cent (1 ¼%) (or 15% per annum) of the
taxes remaining unpaid shall be levied on the first day of default and shall
continue to accrue until paid.
6 On the first day of the calendar month following the due date and every month thereafter for as long as there are taxes remaining unpaid, interest at the rate of one and one quarter per cent (1 ¼%) (or 15% per annum) of the unpaid taxes shall be levied and shall continue to accrue until paid.
7. This by-law does not take effect until
