BYLAW - Set Tax Rations for 1988 - 19980723 - 397198FTHE CORPORATION OF THE TOWN OF AURORA
By-law Number 3971-98.F
BEING A BY-LAW to Set Tax
Ratios for the Year 1998.
WHEREAS it is necessary for the Council of the Town of Aurora, pursuant to the Municipal Act
as amended by the Fair Municipal Finance Act, 1997 and further amended by the Fair Municipal
Act, 1997 (No.2), to establish the tax ratios for 1998 for the Town of Aurora.
AND WHEREAS the tax ratios determine the relative amount of taxation to be borne by each
property class;
AND WHEREAS the property classes have been prescribed by the Minister of Finance under the
Assessment Act as amended by the Fair Municipal Finance Act, 1997 and Regulations thereto.
NOW THEREFORE THE MUNICIPAL COUNCIL OF THE CORPORATION OF THE
TOWN OF AURORA ENACTS AS FOLLOWS:
1. For the taxation year 1998, the tax ratio for property in:
a) the residential/farm property class is 1.0000;
b) the multi-residential property class is 2.0875;
c) the commercial property class is 1.1190;
d) the industrial property class is 1.3427;
e) the pipelines property class is 0.9190;
t) the farmlands property class is 0.2500;
g) the managed forest property class is 0. 2500.
2. For the purposes of this By-law"
a) the commercial property class includes all commercial office property, shopping
centre property and parking lot property;
b) the industrial property class includes all large industrial property.
3. This By-law shall come into force and take effect immediately following third reading.
READ A FIRST TIME THIS IP DAY OF JULY, I998.
READ A SECOND AND THIRD AND FINALLY PASSED THIS 23RD DAY OF JULY, I998.