Policy 65 — Tax Reduction for Property Destruction or Damage — full text

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Page 1 of 3 TOWN OF BRIDGEWATER TAX REDUCTION POLICY FOR PROPERTY DESTRUCTION OR DAMAGE Policy No. 65 Approved: November 24, 2003 Resolution No.: 03- 309 Authority This policy is adopted under the provisions of section 69A of the Municipal Government Act. General Statement The purpose of this policy is to grant temporary tax relief to owners of property that has been destroyed or partially destroyed after the assessment roll has been filed Effective Date This policy shall be effective on April 1, 2004. Application This policy applies to a property if a building on the property has been destroyed or partially destroyed, the destruction was unintentional and not caused by the actions or willful neglect of the owner or any tenant thereof and the assessment of the property does not reflect that the building has been destroyed or partially destroyed. Policy Council will provide for a tax reduction, to the extent described below, for the taxes payable with respect to a property if a building on the property has been unintentionally destroyed or partially destroyed and the assessment of the property does not reflect that the building has been destroyed or partially destroyed. To be eligible for a tax reduction the damage to the property must be at least equal to 10% of the assessment value of the property at the time of the damage. If the property owner carries on a business at the property location and has business interruption insurance that covers ongoing taxes during a shut down then Council will not provide a tax reduction. Council will provide for the reimbursement of any overpayment resulting from the tax reduction provided. To receive the tax reduction the property owner must apply in writing to the Town Clerk within Printed: Sep 23, 2015 H:\ Adm\ Policies & Procedures\ POLICIES\ Policy 65 - Tax Reduction Policy for Property Destruction or Damage. wpd sj l Page 2 of 3 Policy 65 Tax Reduction Policy for Property Destruction or Damage one year after the date on which the property was destroyed or partially destroyed. The written application should state the facts regarding the destruction of the property. Upon receipt of the written request for a tax reduction the Town will request, from the Director of Assessment, a new valuation for the purposes of this policy. The Town will also confirm the facts with the appropriate authority ( i. e. Building Inspector, Fire Chief, etc.). Upon receipt of the Provincial Assessment Report and other appropriate reports ( i. e Building Inspector' s, Fire Chief' s etc), the Town shall reduce the amount of the taxes on the property up to a maximum of $ 1, 000 for each taxation year affected. The tax reduction shall be prorated over the balance of the taxation year from the date of destruction to the earliest of the following dates: 1. ( a) in the case of reconstruction, the date of the issuance of the occupancy permit, or b) in the case of renovation, 90 days from the date of issuance of a building permit. and 2. the end of the taxation year for which the assessment roll has not been adjusted to reflect the destruction. Upon completion of the tax reduction period, the Treasurer shall credit the tax account with the amount of tax reduction granted, together with any interest that may have accrued on the amount of the tax reduction during that period. If the tax reduction results in a credit balance on the account the taxes being rebated shall be paid without interest. If the owner or occupant of the property in question is found guilty of arson, either civilly or criminally, the Town shall not give a tax reduction. In the event that a tax reduction has already been given, then that tax reduction shall be void, and the taxes, with interest accrued thereon, shall become immediately due and payable. Printed: Sep 23, 2015 H:\ Adm\ Policies & Procedures\ POLICIES\ Policy 65 - Tax Reduction Policy for Property Destruction or Damage. wpd sj l Page 3 of 3 Policy 65 Tax Reduction Policy for Property Destruction or Damage TOWN OF BRIDGEWATER APPLICATION FOR TAX REDUCTION FOR PROPERTY DAMAGE Applicant Name Date: Mailing Address: Telephone: Fax: Email: Civic Address of taxable property: Assessment Account Number Registered Owner: If the owner carries on a business at this property location does the business carry business interruption insurance? Yes No Date of property damage: Was the damage to the property unintentional and not caused by the actions or willful neglect of the owner or any tenant thereof? Yes No Describe the facts regarding the destruction of the property I certify that the information given in this application is, to the best of my knowledge, true, correct and complete in every respect. Name ( please print): Signature: Date: Printed: Sep 23, 2015 H:\ Adm\ Policies & Procedures\ POLICIES\ Policy 65 - Tax Reduction Policy for Property Destruction or Damage. wpd sj l