Town of Lunenburg By-Law #60 Deed Transfer Tax By-Law — full text

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TOWN OF LUNENBURG BY-LAW #60. RESPECTING DEED TRANSFER TAX BE IT ENACTED by the Council of the Town of Lunenburg under the authority of Part V Deed Transfers Section 102 (1) and (2) of the Municipal Government Act as follows: Short Title 1. This By-Law shall be known as By-Law #60. and may be cited as the Deed Transfer Tax By-Law. Definitions 2. (1) A Deed Transfer Tax applies in the Town of Lunenburg. (2) The rate of the Deed Transfer Tax shall be one and one half percent (1.5%) of the value of the property transferred. Collection 3. The Registrar of Deeds shall be the agent and collector of the Deed Transfer Tax for the Town of Lunenburg in accordance with an Agreement to that effect between the Town of Lunenburg and the Minister of Service Nova Scotia and Municipal Relations. Revenue Distribution 4. The net proceeds from this Deed Transfer Tax, after deducting from the gross proceeds the cost of administration and collection of this tax by the Town, shall be utilized for: a) one percent (1%) applied to capital expenditures of the Town other than equipment purchases. Permitted capital expenditures shall include, but not be limited to, capital expenditures on streets, sidewalks, sewers, land development for housing and other infrastructure expenditures and b) one half of a percent (0.5%) shall be applied to Town general revenues. Clerk's Annotation for Official Bylaw Book regarding Amendments to Bylaw #60 A By-law Respecting Deed Transfer Tax in The Town of Lunenburg Date of first reading: June 8, 2021 Date of advertisement of notice of intent to consider: June 21, 2021 Date of second/final reading: July 13, 2021 Date of advertisement of passage of Bylaw: July 21, 2021 Date of mailing to Provincial Minister a certified copy of the By-Law: July 15, 2021 I certify that the above Bylaw amendments shown in bold were adopted by Council and published as indicated above. ___________________________ _________________________ Date Bea Renton, CAO/Clerk TOWN OF LUNENBURG BY-LAW #60. RESPECTING DEED TRANSFER TAX BE IT ENACTED by the Council of the Town of Lunenburg under the authority of Section 102 of the Municipal Government Act as follows: Short Title 1. This By-Law shall be known as By-Law #60. and may be cited as the Deed Transfer Tax By-Law. Definitions 2. (1) A Deed Transfer Tax applies in the Town of Lunenburg. (2) The rate of the Deed Transfer Tax shall be one percent of the value of the property transferred. Collection 3. The Registrar of Deeds shall be the agent and collector of the Deed Transfer Tax for the Town of Lunenburg in accordance with an Agreement to that effect between the Town of Lunenburg and the Minister of Service Nova Scotia and Municipal Relations. Revenue Distribution 4. The net proceeds from this Deed Transfer Tax, after deducting from the gross proceeds the cost of administration and collection of this tax by the Town, shall be utilized for capital expenditures of the Town other than equipment purchases. Permitted capital expenditures shall include, but not be limited to, capital expenditures on streets, sidewalks, sewers, land development for housing and other infrastructure expenditures. n U&. 21/33 Date Town ~anagerl~lerk I, Bea Renton, Town ManagerlClerk for the Town of Lunenburg, do certify that the foregoing is a true and current copy of the Deed Transfer Tax By-law #60 of the Town of Lunenburg, duly passed by the Lunenburg Town Council on March 27, 2003, with first reading having been given on February 27,2003, second and thirdlfinal readings on March 27,2003, with an effective date of April 9,2003 when published in the local newspaper. Page l of l