HomeMy WebLinkAboutBy-law 1953/85THE CORPORATION OF THE TOWN OF PICKERING
BY-LAW NUMBER 1953/85
Being a by-law to establish a penalty for
non-payment of current taxes.
WHEREAS pursuant to the provisions of section 5 of the Municipal Interest and Discount
Rates Act, 1982, a municipality may, by by-law, impose a percentage charge as a pen-
alty for non-payment of taxes not exceeding one-twelfth of the prime rate percentage
on the day the by-law is passed or any day within the 14 day period prior to the date
the by-law is passed, plus owe-eighth of one percent, subject to certain conditions;
and
WHEREAS the prime rate of interest of the Canadian Imperial Bank of C~,,lerce, on the
day this by-law is passed or any day within the 14 day period prior to the date the
by-law is passed was 11.0 percent;
NOW THEREFORE the Council of the Corporation of the Town of Pick,ring HEREBY ENACTS as
follows:
As a penalty for the non-payment of taxes, a percentage charge of 1.04 percent
shall be imposed on the first day of default and on the first day of each
calendar month thereafter in which default continues, but not after the end of
the year in which the taxes are levied.
2. (i)
The Town Treasurer shall give notice of this by-law in accordance with
section 386(6) of the Municipal Act, R.S.O. 1980, c. 302.
(2)
For the purposes of subsection (1), the Town Treasurer is hereby
authorized to mail the notice or cause it to be mailed to the address of
the residence or place of business of each person taxed.
The penalty charge imposed by this by-law for the year 1985 shall take effect on
the 1st day of March, 1985.
Section 2210.3 of the Town of Pick,ring Municipal Code is hereby repealed and
replaced by the provisions of this by-law.
BY-LAW READ a first, second and third time and finally PASSED this 21st day of
January, 1985.
Mayor (Acting)
Clerk