TAX MATTERS - VACANT UNIT REBATE

Amount of rebate, 2019 taxation year 1. Despite subsection 257.12.3 (1) of the Act, for the 2019 taxation year, the amount of the vacant unit rebate is, (a) for an eligible property in the commercial property class or the landfill property class, 15 per cent of the taxes for school purposes applicable to the eligible property; and (b) for an eligible property in the industrial property class, 17.5 per cent of the taxes for school purposes applicable to the eligible property. No rebate, 2020 and subsequent taxation years 2. Subsection 257.12.3 (1) of the Act does not apply for the 2020 taxation year and subsequent taxation years to any area in which a board is required to levy taxes for school purposes under Division B of Part IX of the Act. 3. Omitted (provides for coming into force of provisions of this Regulation).