C-19 - Cities and Towns Act

Section 476.3 Disposition versions

2008-06-12

476.3. If the by-law imposes a special tax that is not based on the value of the immovable, the by-law may provide that the ratepayer on whose immovable the tax is imposed may, on the conditions set out in the by-law, exempt the immovable from the tax by paying in one instalment the portion of the principal that, upon maturity of the loan, would have been provided by the tax imposed on that immovable. If the by-law requires compensation, it may provide that the owner or occupant from whom compensation is required may obtain an exemption in the same manner, with the necessary modifications.

The share payable is calculated, in the case of a property tax, according to the assessment roll in force at the time the ratepayer makes the payment, taking into account any taxes paid under the by-law before the payment. In the case of compensation, the share is calculated according to the apportionment provided for in the by-law, as it applies at the time of the payment.

The amount of the moneys to be provided by the tax or compensation is reduced by the amount of any sum paid under this section.

The payment exempts the immovable from the special tax or the owner or occupant from the compensation for the remainder of the term of repayment specified in the by-law.

2008, c. 18, s. 26.