An Act respecting the City of Toronto
The council of the City of Toronto has applied for special legislation in respect of the matters set out in this Act.
It is appropriate to grant the application.
Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:
Graduated tax rates, specified property classes
1. (1)In a by-law made under subsection 368.2 (1) of the Municipal Act, assessment bands may be established for each of the following property classes:
1.The residential/farm property class.
2.The commercial property class.
3.The industrial property class.
(2)The reference in clause 368.2 (1) (a) of the Municipal Act to a property class described in subsection 368.2 (1.1) of that Act shall be deemed to be a reference to a property class listed in subsection (1).
2.This Act comes into force on the day it receives Royal Assent.
3.The short title of this Act is the City of Toronto Act (Graduated Tax Rates), 2000.
Currently, section 368.2 of the Municipal Act allows a municipality to establish graduated tax rates for property in the commercial and industrial property classes. The Bill will authorize the City to establish graduated tax rates for the residential/farm property class, too.