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THE CORPORATION OF THE
TOWN OF COBALT
BY-LAW NO. 2026-14
Being a By-Law to provide for the adoption of 2026 Tax Rates for Municipal and School
Purposes and to further provide penalty and interest for payments in default.
WHEREAS as per Section 290(1) of the Municipal Act, S.O. 2001, c.25, as amended, for each
year, a local municipality shall, in the year or the immediately preceding year, prepare and adopt
a budget including the estimates of all sums required for the operating and capital during the
year for the purposes of the municipality;
AND WHEREAS as per Section 307 (2) (b) of the Municipal Act, S.O. 2001, c.25, as amended,
the tax rates and the rates to raise the fees or charges shall be in the same proportion to each
other as the tax ratios established under Section 308 for the property classes are to each other;
AND WHEREAS as per Section 308 (3) of the Municipal Act, S.O. 2001, c.25 as amended, the
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 ratio is 1 and, despite
this section, the tax ratio for the farmlands property class and the managed forests property
class prescribed under the Assessment Act;
AND WHEREAS as per Section 312 (2) of the Municipal Act, S.O. 2001, c.25, as amended,
provides that for the purpose of raising the general local municipality levy, the council a local
municipality shall, after the adoption of estimates for the year, pass a By-Law levying a separate
tax rate, as specified in the By-Law, on the assessment in each property class in the local
municipality rate able for local municipality purposes;
AND WHEREAS as per Section 345(1) of the Municipal Act, S.O., 2001 c.25, as amended, a
municipality may pass By-Laws to impose late payment charges for the non-payment of taxes or
any installment by the due date;
AND WHEREAS Council has set tax ratios under the authority of By-Law No. 2026-13 as
adopted on the 31st day of March 2026;
AND WHEREAS at the Special Meeting of Council on March 24, 2026, the 2026 Budget was
approved in the amount of $4,346,492 which includes a Capital Budget of $609,626 and an
Operating Budget of $3,736,866 and which requires a levy for municipal purposes in the amount
of $923,823.
AND WHEREAS certain education rates are provided in various regulations and commercial
and industrial education amounts have been requisitioned by the Province;
NOW THEREFORE the Council of the Corporation of the Town of Cobalt hereby enacts as
follows;
1. That the tax rates for 2026 Municipal and Education purposes be hereby set as per
Schedule "A" hereto attached and forming part of this By-Law;
2. That all charges shall be added to the tax roll and shall become due and payable in two
(2) installments as follows:
a. 50% of the levy for all classes shall become due and payable on the 31st day of
August 2026;
b. 50% of the levy for all classes shall become due and payable on the 30th day of
October 2026;
3. That non-payment of the amounts, as noted, on the dates stated in accordance with the
By-Law constitutes default and that all taxes of the levy which are in default after the
noted due dates shall be added a penalty of 1.25% per month, until December 31st,
2026; and
4. That all taxes unpaid as of December 31, 2026 shall be added a penalty at the rate of
1.25% per month for each month or fraction thereof in which the arrears continue.
TAKEN AS READ a first, second and third time and finally passed this 31st day of March 2026.
AND FURTHER THAT the said By-Law be signed and sealed by the Mayor and Clerk.
Angela Adshead, Mayor
Jaime Allen, Interim Clerk
THE CORPORATION OF THE TOWN OF COBALT
Schedule "A" TO BY-LAW 2026-14
Being a By-Law to provide for the adoption of 2026 Tax Rates for Municipal and School
Purposes and to further provide penalty and interest for payments in default.
Schedule "A" to
By-Law No. 2026-14
General Tax Rates
Municipal
Education
Residential
0.02003364
0.00153000
Multi - Residential
0.03599644
0.00153000
Commercial Occupied
0.03706223
0.00880000
Commercial Excess/Vacant
Land
0.02594356
0.00880000
Industrial Occupied
0.03706223
0.00880000
Industrial Excess/Vacant
Land
0.02409045
0.00880000
Pipelines
0.02843575
0.00880000