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Snapshot 0b496ab3983f · verified 2026-10-26 ·
original document ·
archived snapshot ·
unofficial consolidation, the official version is held by the municipal clerk.
Aw Simply Beautiful. Naturally Prince
THE CORPORATION OF THE TOWNSHIP OF PRINCE
BY-LAW NO. 2026 — 20
Being a By-law to set and levy tax rates and to further provide for penalty and
interest in default of payment thereof for 2026
WHEREAS Section 312 of The Municipal Act 2001, as amended, provides that the Council of a
local municipality shall, pass a by-law to levy a separate tax rate on the assessment in each
property class, and;
WHEREAS Sections 307 and 308 of the said Act require tax rates to be established in the same
proportion to tax ratios, and;
WHEREAS the sum required for general and capital municipal expense purposes is estimated at
$2,910,150.67, and;
WHEREAS certain regulations require reductions in certain tax rates for certain classes or
subclasses of property.
Now THEREFORE the Council of the Corporation of the Township of Prince hereby ENACTS AS
FOLLOWS:
1. THAT the estimate of $1,785,757.46 for general municipal purposes falling due within the year
2026 is hereby adopted.
2. THAT a tax rate of 1.047820% is hereby adopted to be applied against the whole of the
assessment for real property in the residential class.
3. THAT a tax rate of 1.392077% is hereby adopted to be applied against the whole of the
assessment for real property in the commercial class as adjusted by the provisions of the
Municipal Act 2001.
4. THAT a tax rate of 1.949590% is hereby adopted to be applied against the whole of the
assessment for real property in the industrial class as adjusted by the provisions of the
Municipal Act 2001,
S. THAT a tax rate of 1.152602% is hereby adopted to be applied against the whole of the
assessment for real property in the pipelines class.
6. THAT a tax rate of 0.261955% is hereby adopted to be applied against the whole of the
assessment for real property in the managed forest class.
7, THAT a tax rate of 0.261955% is hereby adopted to be applied against the whole of the
assessment for real property in the farmlands class.
Pursuant to Ontario Regulation 400/98 of the Education Act, the following education tax rates
are established:
8. An education tax rate of 0.153% for general residential purposes.
9. An education tax rate of 0.880% applied against the whole of the assessment for real
property in the commercial and industrial classes.
10. THAT the reduction in the tax rate for commercial vacant land is established at 30%.
11. THAT the reduction in the tax rate for industrial vacant land is established at 35%.
12, THAT every owner shail be taxed according to the tax rates in this by-law and such tax shall
become due and payable in two installments as follows:
50 per cent of the final levy (after deduction of the interim levy} rounded upwards to the
next whole dollar shall become due and payable on the 25 day of August 2026; and the
balance of the final levy shall become due and payable on the 25 day of October 2026 and
non-payment of the amount, as noted, on the dates stated in accordance with this section
shall constitute default.
13. On all taxes of the levy which are in default a penalty of 1.25% shall be added
and thereafter a penalty of 1.25% per month will be added on the first day of each and
every month the default continues, unti] December 31st, 2026.
14, On all taxes in default on January 1st, 2027, interest shall be added at the rate of 1.25%
per month for each month or fraction thereof in which the default continues.
15. Penalties and interest added in default shall become due and payable and shall be collected
as if the same had originally been imposed and formed part of such unpaid tax levy.
16. The collector 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.
17. THAT taxes are payable to the Township of Prince Municipal Office, 3042 Second Line
West, Prince Township, Ontario P6A 6K4.
18. THAT this by-law may be cited as the "2026 Final Tax Levy By-law.”
19. THAT this by-law shall come into force and effect on the date of its final passing.
READ A FIRST, SECOND, THIRD TIME AND FINALLY PASSED in open Council this 14th day of April,
2026.
Mayor, Melanie Mageran Clerk ~ Treasurer, Megha Trivedi