HomeMy WebLinkAboutTR 01/97
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REPORT TO COUNCIL
FROM:
DATE: January 14.1997
loge Berrey
Manager. Accounting &
PayroU Services
REPORT NUMBER: TR 01/97
SUBJECT: Tax Related and Borrowing By-Law&
RECOMMENDATION:
Draft By-Laws to:
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(1) Provide for temporary borrowing.
(2) Provide for the imposition of a penalty for non-payment of
taxes.
(3) Provide for the addition of interest to tax arrears.
(4) Provide for tax installment due dates,
to be forwarded to Council for enactment.
AUTHORITY: Municipal Act
FINANCIAL IMPLICATIONS:
(1)
Borrowing By-Law - Interest costs of approximately
$5.000-$8.000.
(2)
Penalty and interest By-Law - revenue of approximately
$850.000 (12%) or $1.062,500 (15%)
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t ' BACKGROUND:
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~~ , The E3orrowing By-Law is required to authorize the yearly borrowing of
'!r 8Ums necessary to meet the current expenditures of the Corporation
i~i';.~,:,., '..~. "until taXes are collected. During the past twelva months the Town has
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. " "~~;:.i'. ;b.!t!n In ~ borrowing position from our bankers on 7 occasions. Based
,;"',' "~,~".o.n,~l!!m estJ~te~. the ~i~~ng $3.,0Q0.OOO remains adequate for fund
;:+.r(:,,:r 'n~ement purposes. :'." , " ,> . .
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" '. ~~ItI~n 0(. p,'""-Ity for n~n-p.yment of taxes and the addition of
~.Int.re.t to tax arrears ralHI I considerable amount of revenue for the
:,~~.,.(:Cc;>>~ratl~n.:" 1'he....t. being submitted I. 12% per annum. However,
',' ~",' Ilnc,e the go~ratlon has Introduced various tax payment options to
ease the burden to the taxpayer. 8S well 8S keeping In line with the rate
· ,.. being charged by all other municipalities within Durham Region, Council
.. may wish to consider Imposing the maximum allowable rate of 15% per
annum. this would generate approximately $213,000 more revonue In
1997.
The Installment due dates for 1997 are similar to those In place since
1976. with Installment payments due In February, April, June and
September. The dates have been set to allow three business days
grace before a non-payment penalty Is applied on the first of the month
following.
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'''~ ATTACHMENTS:
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Ing rrey
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Beiq . by-law to ..-ad By-law Number 2108/85 l'etpoct.iD, the
tempOrUY borrowiaa ollDOl1iet UDtIl taxeI are coDocted ( 1997)
WHE1U!AS punuaD& to tho pmiDoal or sectioa 187 or the Municipal Act, R.S.O. 1m, c.
M.4'. 1M COUDCiI or tho Corporatba ol the ToWll or Pickerill, CIlIctod By-law 2108l8S
audaodziq eM yoady borrowiD. ollWDl DICeIWY to meet. until taxes are collected, the current
expeDdkuret oltho Corporatiol Cor tho year,
NOW TIlE&EFOlE the COUDcil or Tho Corporation or the Town or Pickering HEREBY
ENACTS u CoDows:
1. Sdledu1e -A- to By-law 2108/85, u amended, is hereby furth~ amended by addiDs
thereto the CoDowm. item:
17.
1997
S3 minion S90,7()f1,OOO
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BY-LAW read. fint, ICCODd and third time and finally passed thiJ 3rd day of Feb. "ry, 1997.
W a)1l'" Arthurs, Mayor
Bruce Taylor, Clerk
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BeiDa . by-law (0 provide Lt the qotitioa of. reuky
Cor DOD-pa)'II*d or taxeL
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Yt'HDEAS. pu:r-~ to tM p~ ofth, MUDkipal Act, IlS.0. 1990. chapter M."'. sectloa
3"':'\). aM C08CI ol1'he Corporadoa or tile ToWll of PkkeriD. may by by-law impose I
pma',., dwJe II' peaky Cor DOD-papcet ofuxet Dol exceediD. l' per ceot per 1DDwn. or
.da lol\u ta&t: &, C'.ouadI cJetermiDet. &om tile date plymCDt iJ due until it is mad. or until thf"
31. Uy ol0et:.1lIDber of tile year ia whk1 the taxes were levled. whlchCl'VeI' is earlier;
NOW 1HDEf'OJE the COUDdJ of 1\. Corpo..tioD of the TOWD of Pickerilla HEREBY
ENACTS AS fOllOWS:
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AJ . pa~t1ly Cor the Doa-paymeat of uxes. I clw1t of 12.0 per cent per lDDum shall be
impoted fDr tJw DOD-plymCDt oftaxet., until plymeat is made or until December 31. lCN7,
wbichever is earlier.
2. ne TC'W8 Treuurer dWI Jive Dotice of tha PcrceDtll' chari' imposed by section 1,
above, t~ the peltoU taXed by causiDa Dotice thereoC to be mailed to the address or the
mi&lDce or place ofbusiaua of such pcnou.
3.
~~ 2210.3.1md 2210.3.2 oCm. ToWll 9CPickerinl Municipal Code are revoked
Potl. ~ I1DC12 oCthiI By-law ut IUbstiruted Cor them.
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nit By-law .k,1i ::OmG into to"" upoa the date oCpasuge hereoC
BY-LA~ read I ~ IeCOI\d IIld third time and fmaI}y passed thiJ 3rd day of February, 1997.
Wayue AnhUl .. Mayor
Broce Taylor, Clerk
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a-. . by-law to provide b the addidoa ofim__ to
tax arrean
WHElU!AS, purIDIIIt to the provWou oCthe MuDldpaJ Act, IlS.0. 1990, chapter M..." section
419(2). the COUDCiI oCThe CorporatJoa of the TO'Ml of PkkeriDl may by by-law requiro thAt the
TOM Treuarer add to the UDOUIlt of aD taxes due ad unpald iIlterett It such rlto Dot exceediag
l' per ceat I*' IIIIlUD1 U Couacil cletermiD-. hm the 311t day of December of tho yeti ill which
the taxes were levied UDtil the taxes are paid;
NOW 1lIE1mFORE the COUIlci1 of Tho Corporation of tho Town of PickerillS HEREBY
ENACTS AS FOllOWS:
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The TOWII Treuurer shaD add to the amount of aD taxel duo aDd Wlpald interest at the
nt. of 12.0 per CCIlt per IDDWD hm December 31, 1996, until the taxel ue paid.
2. Secdou 2210....1 ofth. ToWll or Pkkerias Municipal Code uo revoked aDd section I of
this By-law is aubatiruted for them.
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3. This By-law shaD come iato force upoa the date of passage hereof:
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BY-LAW read I ~ IeCOIld md third time aDd fiDaDy passed this 3rd d..y of February, 1997.
Wayne Arthurs, Mayor
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Bruce Taylor, .Clerk
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Beiq . by-law to ameDd the TOWI ot Pkkeriq Municlpal Code
to ax ...'"'-1 elates rapecdq the colJectioa ottaxe&.
WHElEAS By-law 3s.cn6. ..cteel by the CoUDci1 oCthe CorporatioD oCthe TOWD oC Pickerma
ell Jamwy 2. 1976, providel._eraDy Cor the paymeal ad collection oCtaxe.; ad
WHElEAS punuat to MCdoa 3 oCBy-1aw 3'4n6,lt is deemocl expodleot at thiJ time to fix the
due elates tbt the p~ oC...1mMtl or 1997 taxu;
NOW 11IEIlEFORE the COUDci1 oC Tho Corpontioa of the TOWD of Pickering HEREBY
ENACTS u CoDowl:
1. Sec:doa. 2210.1, 2210.2, 2210.2.1 ad 2210.2.2 oCthe TOWD oCPickeriDg Municipal Code
1ft hereby deleteclllld the CoDowiallUbltituted therefore:
2210.1 The ToWll Treuurer.Tax Collector is hereby authorized to prepare and live
two leplrlte tax notices for 1997 taxes. one notice beiDg a INTERIM DotiCe
with two butaImeDlI, ad one beiDga FINAL notice with two instalments.
2210.2 The due dates Cor the paymcat oC 1997 taxes in instalment, are II foUow.:
2210.2.1 INTEPJMTaxNotice
due elite of fillt instalment F ebnwy 2 ~, 1997
due elite oCleCOIld instalment Apri12~, 1997
2210.2.2
FINAL Tax Notice
due elite oClit. m..alnvoJit June 2~, 1997
due elite oCaecond instalment September 2~, 1997
BY-lAW read a first, aecond and third time and finally passed this 3rd day oCFebruary, 1997.
Wa)'De Arthurs. Mayor
Bruce Taylor, Clerk