005-2017 - To Authorize an Iterim Tax Levy

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THE CORPORATION OF THE TOWN OF LAKESHORE BY-LAW NO. 5-2017 BEING A BY-LAW TO AUTHORIZE AN INTERIM TAX LEVY PRIOR TO THE ADOPTION OF THE ESTIMATES FOR THE YEAR 2017 WHEREAS the council wishes to impose an interim levy as authorized by Section 317 of the Municipal Act, 2001, as amended; NOW THEREFORE the Council of the Corporation of the Town of Lakeshore enacts as follows: 1. The Treasurer of the Corporation of the Town of Lakeshore is hereby authorized to levy in 2017 on the whole of the assessment for taxable property according to the last revised assessment roll the sum produced by applying the rates set out in Schedule A. 2. The resulting tax levied on real property (hereinafter referred to as the "Interim Levy") shall be payable in as follows: (a) Interim Levy of up to $200.00, to be payable in a single installment on or before February 28, 2017; (b) Interim Levy in excess of $200.00 to be divided over two installments and payable on or before: i) February 28, 2017 — First installment; and ii) April 28, 2017 — Second installment. 3. The Treasurer is hereby authorized to adjust the Interim Levy of any property at the request of the property owner if the taxes imposed by this By-law significantly exceed 50% of the taxes paid by the property in 2016 adjusted to annualize any assessment changes which were incurred during 2016. No adjustment made shall reduce the 2017 Interim Levy to below 50% of the 2016 adjusted tax amount. No adjustment will be made after the final 2017 taxes for the property have been calculated. 4. That taxes may be levied in accordance with the provisions of this By-law on the assessment of property that is added to the assessment roll after this By-law is passed. 5. That the Treasurer shall add to the amount of all taxes due and unpaid and levied under the authority of this By-law a penalty charge equal to 1.25 percent of such amount and the penalty charge shall be added on the first day following the due date. 6. That the Treasurer shall add to the amount of all taxes due and unpaid and levied under the authority of this By-law a late payment charge equal to 1.25 percent of such amount and the late payment charge shall be added on the first day of each month thereafter in which default continues. 7. That the Treasurer is hereby authorized to accept part payment from time to time on account of any taxes due and to give a receipt for such a part payment provided that acceptance of any such part payment shall not affect the collection of any percentage charge imposed and collectable in respect of non-payment of the taxes or any installment thereof. 8. That the Treasurer is hereby authorized and directed to mail or cause to be mailed every tax notice the same to be mailed to the address of the property of the person taxed. 9. Failure to receive a Tax Notice does not exempt the property owner from penalty and late payment charges as outlined in 5 and 6 above.