HomeMy WebLinkAboutBy-law 1614/83THE CORPORATION OF THE TOWN OF PICKERING
BY-LAW NUMBER 1614/83
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 penalty 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 one-eighth
of one percent, subject to certain conditions; and
WHEREAS the prime rate of interest of the Canadian Imperial
Bank of Commerce, 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 12.0 percent;
NOW THEREFORE the Council of the Corporation of the Town of
Pickering HEREBY ENACTS as follows:
As a penalty for the non-payment of taxes, a percentage
charge of 1.125 per cent 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.
(1)
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 Treas-
urer 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 1983
shall take effect on the 1st day of March, 1983.
Section 2210.3 of the Town of Pickering 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hereby repealed and replaced by the provisions of this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 24th day of January, 1983.