BIA Levy By-law

BY-LAW Number: 
2018-045
Summary: 

BEING A BY-LAW TO PROVIDE FOR THE LEVY AND COLLECTION OF SUMS REQUIRED BY THE COLLINGWOOD BUSINESS IMPROVEMENT AREA FOR THE YEAR 2018.

WHEREAS Section 312 of the Municipal Act, 2001, S.O. 2001,c 25, provides that the Council of a local municipality shall, after the adoption of estimates for the year, pass a by-law to levy a separate tax rate of the assessment in each property class;
 
AND WHEREAS Sections 307 and 308 of the said Act require taxes to be levied upon the whole of the assessment for real property according to the amounts assessed under the Assessment Act, R.S.O. 1990, c.A.31 and that tax rates to be established in the same proportion to tax ratios;
 
AND WHEREAS Section 205 of the said Act requires that a board of management of a business improvement area shall prepare a budget for each fiscal year and shall hold one or more meetings of its members of the improvement area for discussion of the proposed budget and submit the budget for approval by Council;
 
AND WHEREAS Section 208 of the said Act requires that the municipality shall raise the amount required for the purposes of the board of management by a special charge by levy upon rateable property in the improvement area that is in a prescribed business property class.
 
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF COLLINGWOOD HEREBY ENACTS AS FOLLOWS
 
1. THAT the sum of $450,000 shall be levied on non-residential properties located within the boundaries of the Town of Collingwood’s Collingwood Business Improvement Area for the year 2018.
 
2. THAT such amount be provided for by a tax rate of 0.358084% on the business property class assessment. 
 
ENACTED AND PASSED this 28th day of May 2018.
 
 
 
_____________________________
MAYOR
 
 
 
_____________________________
CLERK
                           
AttachmentSize
BL2018-045 2018 BIA Levy.pdf183.19 KB