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unofficial consolidation, the official version is held by the municipal clerk.
THE CORPORATION OF THE TOWNSHIP OF BONFIELD
BY-LAW NO. 2025-27
BEING A BY-LAW FOR ESTABLISHING TAX
RATIOS FOR THE YEAR 2025
WHEREAS pursuant to Section 308 of The Municipal Act, 2001, c.25, as amended, (The Act), a
municipality shall pass a by-law in each year to establish the tax ratios for that year for the
Municipality;
AND WHEREAS tax ratios are the ratios that the tax rate for each property class must be to the
tax rate for the residential/farm property class where the residential/farm property class tax ratio
is 1 and the tax ratio for the farmlands property class and the managed forests property class
prescribed under the Assessment Act is .25;
AND WHEREAS pursuant, to Section 313 of The Act, it is necessary for the Council of the
Township of Bonfield to establish tax reductions for the prescribed subclasses;
NOW THEREFORE the Council of the Corporation of the Township of Bonfield
ENACTS AS FOLLOWS:
1. For the year 2025, the tax ratio for property in:
a) the residential/farm property class is 1.000000;
b) the commercial property class is 1.006700;
Cc) the industrial property class is 1.261000;
d) the pipelines property class is 0.782262;
e) the farmlands property class is 0.250000;
f) the managed forest property class is 0.250000;
g) the landfill property class is 2.549296;
h) the aggregate extraction property class is 1.026084:
2. The tax rate reduction factor for:
a) the vacant land and excess land subclasses in the commercial
property class is 0.70;
b) the vacant land and excess land subclasses in the industrial
property class is 0.65;
er 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;
4. This By-Law shall come into force and take effect immediately following third
reading.
READ A FIRST, SECOND AND THIRD TIME AND FINALLY PASSED THIS 24TH DAY OF
JUNE 20285.
—_— ae pw —- ws
MAYOR” [
CLERK