RATE RATIOS

Definitions 1. In this Regulation, “commercial property class” means the commercial property class prescribed under the Assessment Act; (“catégorie des biens commerciaux”) “farm property class” means the farm property class prescribed under the Assessment Act; (“catégorie des biens agricoles”) “industrial property class” means the industrial property class prescribed under the Assessment Act; (“catégorie des biens industriels”) “managed forests property class” means the managed forests property class prescribed under the Assessment Act; (“catégorie des forêts aménagées”) “pipe line property class” means the pipe line property class prescribed under the Assessment Act. (“catégorie des pipelines”) O. Reg. 226/09, s. 1; O. Reg. 244/16, s. 1. Rate ratios before 2023 2. (0.1) This section applies with respect to the determination of the rate ratio for a property class in a Board area for the purposes of section 23.1 of the Act for taxation years before 2023. O. Reg. 579/22, s. 1. (1) For the purposes of subsection 23.1 (8) of the Act, the rate ratios for a Board set out in Table 1 are the following ratios for the following classes of property: 1. For the commercial property class, the rate ratio is the ratio in the column entitled “Ratio - Commercial Property Class” in the Table set out opposite the name of the Board. 2. Revoked: O. Reg. 135/11, s. 1 (1). 3. For the industrial property class, the rate ratio is the ratio in the column entitled “Ratio - Industrial Property Class” in the Table set out opposite the name of the Board. 4. Revoked: O. Reg. 135/11, s. 1 (1). 5. For the pipe line property class, the rate ratio is the ratio in the column entitled “Ratio - Pipe Line Property Class” in the Table set out opposite the name of the Board. O. Reg. 226/09, s. 2; O. Reg. 244/16, s. 2 (1-3). (2) For the farm property class, the rate ratio is 0.25 for a Board. O. Reg. 135/11, s. 1 (2). (3) For the managed forests property class, the rate ratio is 0.25 for a Board. O. Reg. 135/11, s. 1 (2); O. Reg. 244/16, s. 2 (4). Rate ratios for 2023 3. (1) This section applies with respect to the determination of the rate ratio for a property class in a Board area for the purposes of section 23.1 of the Act for the 2023 taxation year. O. Reg. 579/22, s. 2. (2) In this section, “revenue neutral ratio” means the ratio determined under section 5. O. Reg. 579/22, s. 2. (3) The rate ratio for the farm property class is 0.25. O. Reg. 579/22, s. 2. (4) The rate ratio for the managed forests property class is 0.25. O. Reg. 579/22, s. 2. (5) In the case of a Board that is not set out in Table 1, the rate ratio for a property class other than the farm property class and the managed forests property class is 1. O. Reg. 579/22, s. 2. (6) In the case of a Board set out in Table 1, if no rate ratio applied for the property class because the Table indicates that the ratio is not applicable, the rate ratio is 1. O. Reg. 579/22, s. 2. (7) In the case of a Board set out in Table 1, for a property class other than the farm property class and the managed forests property class, the following rules apply: 1. If the ratio set out in Table 1 is 1, the rate ratio is 1. 2. If the ratio set out in Table 1 is less than 1 and the rate ratio for the 2022 taxation year for the property class is greater than the revenue neutral ratio for the property class for the 2023 taxation year, the rate ratio for the property class for the 2023 taxation year is equal to the rate ratio for the property class for the 2022 taxation year. 3. If the ratio set out in Table 1 is less than 1 and the rate ratio for the 2022 taxation year for the property class is less than or equal to the revenue neutral ratio for the property class for the 2023 taxation year, the rate ratio for the property class for the 2023 taxation year is equal to the revenue neutral ratio for the property class for the 2023 taxation year. 4. If the ratio set out in Table 1 is greater than 1 and the rate ratio for the 2022 taxation year for the property class is greater than or equal to the revenue neutral ratio for the property class for the 2023 taxation year, the rate ratio for the property class for the 2023 taxation year is equal to the revenue neutral ratio for the property class for the 2023 taxation year. 5. If the ratio set out in Table 1 is greater than 1 and the rate ratio for the 2022 taxation year for the property class is less than the revenue neutral ratio for the property class for the 2023 taxation year, the rate ratio for the property class for the 2023 taxation year is equal to the rate ratio for the property class for the 2022 taxation year. O. Reg. 579/22, s. 2. Rate ratios for taxation years after 2023 4. (1) This section applies with respect to the determination of the rate ratio for a property class in a Board area for the purposes of section 23.1 of the Act for a taxation year after 2023. O. Reg. 579/22, s. 2. (2) In this section, “revenue neutral ratio” means the ratio determined under section 5. O. Reg. 579/22, s. 2. (3) The rate ratio for the farm property class is 0.25. O. Reg. 579/22, s. 2. (4) The rate ratio for the managed forests property class is 0.25. O. Reg. 579/22, s. 2. (5) In the case of a property class, other than the farm property class and the managed forests property class, for which no ratio applied in the previous year, the rate ratio is 1. O. Reg. 579/22, s. 2. (6) In the case of a property class other than the farm property class and the managed forests property class, the following rules apply: 1. For a property class for which the rate ratio for the previous taxation year is 1, the rate ratio is 1. 2. If the rate ratio for the property class for the previous taxation year is less than 1 and greater than the revenue neutral ratio for the property class for the taxation year, the rate ratio for the property class for the taxation year is equal to the rate ratio for the property class for the previous taxation year. 3. If the rate ratio for the property class for the previous taxation year is less than 1 and less than or equal to the revenue neutral ratio for the property class for the taxation year, the rate ratio for the property class for the taxation year is equal to the revenue neutral ratio for the property class for the taxation year. 4. If the rate ratio for the property class for the previous taxation year is greater than 1 and greater than or equal to the revenue neutral ratio for the property class for the taxation year, the rate ratio for the property class for the taxation year is equal to the revenue neutral ratio for the property class for the taxation year. 5. If the rate ratio for the property class for the previous taxation year is greater than 1 and less than the revenue neutral ratio for the property class for the taxation year, the rate ratio for the property class for the taxation year is equal to the rate ratio for the property class for the previous taxation year. O. Reg. 579/22, s. 2. Revenue neutral ratio 5. (1) In this section, “specified classes” means the farm property class, the managed forests property class, the residential property class and the multi-residential property class. O. Reg. 579/22, s. 2. (2) For the purposes of determining the revenue neutral ratio for a property class in a Board area under this section, the total assessment for the properties in a property class for the previous year includes all assessments made for the purposes of taxation for the previous year that are made after the return of the roll for the Board for the previous year. O. Reg. 579/22, s. 2. (3) The revenue neutral ratio for a property class in a Board area, other than a property class in the specified classes, for a taxation year is determined as follows: 1. Multiply the rate ratio for the property class for the previous year by the amount of the total assessment of the properties in that property class for the year. 2. Multiply the rate ratio for the property class for the previous year by the amount of the total assessment of the properties in that property class for the previous year. 3. Determine the weighted reassessment change for the specified classes by dividing “A” by “B” where, “A” is the sum of all amounts each of which is an amount determined under paragraph 1 for a property class included in the specified classes, and “B” is the sum of all amounts each of which is an amount determined under paragraph 2 for a property class included in the specified classes. 4. Determine the weighted reassessment change for each property class in the Board area, other than a class in the specified classes, by dividing “C” by “D” where, “C” is the amount determined under paragraph 1 for the property class, and “D” is the amount determined under paragraph 2 for the property class. 5. Determine the adjustment factor for each property class in the Board area, other than the specified classes, by dividing “E” by “F” where, “E” is the weighted reassessment change determined for the class under paragraph 4, and “F” is the weighted reassessment change determined for the specified classes under paragraph 3. 6. Determine the revenue neutral ratio for a property class in the Board area for the taxation year by dividing “G” by “H” where, “G” is the rate ratio for the previous year for the property class, and “H” is the adjustment factor for the property class determined under paragraph 5. O. Reg. 579/22, s. 2. TABLE 1 RATE RATIOS FOR TAXATION YEARS BEFORE 2023 Item Board Ratio - Commercial Property Class Ratio - Industrial Property Class Ratio - Pipe Line Property Class 1. The Local Services Board of East Gorham 7.514031 0.608487 34.085724 2. The Local Services Board of Kaministiquia 1.413260 0.621951 11.587473 2.1 The Local Services Board of Kenogami and District 1.000000 1.000000 1.000000 3. The Local Services Board of Laurier 1.436935 1.394499 3.268587 4. The Local Services Board of Melgund 1.396657 not applicable 2.795935 5. The Local Services Board of Searchmont and Area 1.000000 1.000000 not applicable 6. The Local Services Board of Tilden Lake 3.243619 not applicable 6.590889 7. The Local Services Board of Upsala 0.238869 3.218357 4.910539 8. The Local Services Board of Wabigoon 4.895071 1.000000 4.201185 O. Reg. 135/11, s. 2; O. Reg. 244/16, s. 3; O. Reg. 465/22, s. 1; O. Reg. 579/22, s. 3.