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unofficial consolidation, the official version is held by the municipal clerk.
THE CORPORATION OF THE TOWNSHIP OF FARADAY
BY-LAW NO. 26-2026
Being a By-Law to provide for the adoption of the levy and to provide for
the adoption of tax rates and to further provide for penalty and interest in
default of payment thereof for 2026.
WHEREAS Section 312 (2) of the Municipal Act, 2001 S.O. 2001, c.25, as
amended provides that for purposes of raising the general local municipality levy,
a local municipality shall, each 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 rateable for local municipality purposes.
AND WHEREAS the 2026 levy for all purposes has been set at $5,092,702.91;
AND WHERAS certain regulations require reductions in certain tax rates for
certain classes of subclasses of property;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE
TOWNSHIP OF FARADAY ENACTS AS FOLLOWS:
1. THAT the following sums be and they are hereby levied for the year 2026:
General Municipal Purposes
$ 3,111,488.25
County Purposes
$ 1,354,437.55
Education Purposes
$ 626,777.11
2.
THAT the following tax rates are hereby adopted to be applied against the
whole of the assessment for real property in the following classes:
Residential/Farm
(RT)
0.008523
Managed Forest
(TT)
0.002131
Farmlands
(FT)
0.002131
Commercial
(CT)
0.009375
Commercial - Vac/Exc
(CU)
0.009375
Commercial - Vac
(CX)
0.009375
Industrial
(IT)
0.009375
Industrial - Vac/Exc
(IU)
0.009375
Industrial - Vac
(IX)
0.009375
Aggregate Extraction
(VT)
0.009375
3.
THAT every owner shall be taxed according to the tax rates in this By-law
and such tax shall become due and payable as follows:
(a)
Residential/Farm, Pipeline, Farmlands and Managed Forest;
100% of the final levy shall become due and payable on July 23,
2026 and nonpayment of the amount in full, on the date stated in
accordance with this section shall constitute default.
(b)
Multi-Residential, Commercial, Commercial-Vacant Unit/Excess
Land, Commercial-Vacant Land, Landfill, Industrial, Industrial-
Vacant Unit/Excess Land and Industrial-Vacant Land; 100% of the
final levy shall become due and payable on July 23, 2026 and
nonpayment of the amount in full, on the date stated in accordance
with this section shall constitute default.
By-Law No. 26-2026
Page 2
4.
(a)
A percentage charge of 1.25% shall be imposed for nonpayment
of taxes on the first day of default being August 1, 2026 on the
classes described in 3(a) & (b), and thereafter a percentage charge
of 1.25% per month will be added on the first day of each and every
month the default continues, until December 31st, 2026.
(b)
On all taxes of the Final Tax Levy in default on January 1st, 2027
interest will be added at the rate of 1.25% per month for each
month or fraction thereof the default continues.
5.
Penalties and interest added on all taxes of the Final Tax Levy in default
shall become due and payable and shall be collected forthwith as if the
same had originally been imposed and formed part of such unpaid Final
Tax Levy.
6.
The Treasurer may mail or cause the same to be mailed to the residence
or place of business of such person indicated on the last revised
assessment roll, a written or printed notice specifying the amount of taxes
payable.
7.
Taxes are payable at the Township of Faraday, 29860 Highway 28,
Bancroft, Ontario, K0L 1C0, or by means of your Banks Internet or
Telephone Banking Service and all payments of taxes shall be applied to
arrears if any. All taxes shall be deposited to the credit of the Township of
Faraday.
8.
That this by-law repeals all previous by-laws and/or motions of Council
pertaining to the same.
PASSED this 01st day of April 2026.
MAYOR: DENNIS PURCELL
SEAL
CLERK: BERNICE CROCKER