Recommendation: That, on the
recommendation of the Managing Director, Corporate Services and City
Treasurer, Chief Financial Officer, the following actions be taken with
respect to property taxation for 2013:
a) a
by-law be enacted in accordance with Sub-sections 308(4) and 308.1(4) of the Municipal
Act, 2001 to set tax ratios in the multi-residential, pipeline and farm
property classes as indicated on Schedule F and such attached proposed
by-law (Appendix A) BE INTRODUCED at the Council meeting of March 26,
2013;
b) a
by-law be enacted in accordance with Sub-section 308(4) of the Municipal
Act, 2001 to set tax ratios in the commercial and industrial property
class as indicated in Schedule F of this report; so that tax ratios for these
classes are maintained at Provincial thresholds/averages and such attached
proposed by-law (Appendix A) BE INTRODUCED at the Council meeting of
March 26, 2013;
c) a
by-law be enacted to fully utilize options available in 2013 to exclude
properties in capped property classes which have reached current value
assessment tax levels or higher in 2012 from being capped again in 2013 and
future years and such attached proposed by-law (Appendix B) BE
INTRODUCED at the Council meeting of March 26, 2013;
d) a
by-law be enacted in accordance with Section 330 of the Municipal Act,
2001 to claw back a portion of tax decreases in each of the commercial,
industrial, and multi-residential classes sufficient to fully finance the
capping of increases as required under Section 329 of the Municipal Act,
2001 and such attached proposed by-law (Appendix C) BE
INTRODUCED at the Council meeting on March 26, 2013;
e) a
by-law be enacted in accordance with Section 329.1 of the Municipal Act,
2001 for 2012 to adopt the same capping formulae for the commercial,
industrial and multi-residential property classes as was applicable in 2012
and such attached proposed by-law (Appendix D) BE INTRODUCED at
the Council meeting on March 26, 2013;
f) a
phase-in program for tax changes resulting from the reassessment of
properties in the residential, farmland, and managed forests property classes
in accordance with Section 318 of the Municipal Act, 2001 not be adopted;
g) the
matter of tax policy BE REFERRED to a future meeting of the Strategic
Priorities and Policy Committee, as part of a larger discussion with respect
to the City of London’s economic strategy and its competitive position, so
that tax policy and other matters can be considered in a holistic manner; and
h) an
information session BE HELD at the June 10, 2013 meeting of the
Strategic Priorities and Policy Committee for the purpose of informing
Council Members about tax policy, in order to assist in future decisions
pertaining to tax policy.
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