TAX MATTERS - RATES UNDER SUBSECTION 255 (1) OF THE ACT

1. This Regulation governs the levying of rates under subsection 255 (1) of the Act by a board for the purposes of a recreation committee or joint recreation committee on property in territory without municipal organization. O. Reg. 712/98, s. 1. 2. (1) Subject to subsection (2), there shall be a single rate for each property class prescribed under the Assessment Act and the rates for different property classes shall be in the same proportion to each other as the tax rates for school purposes for those classes are to each other. O. Reg. 712/98, s. 2 (1). (2) If the tax rate for school purposes for a subclass prescribed under the Assessment Act is less than the tax rate for school purposes for the property class, there shall be a single rate under subsection 255 (1) of the Act for the subclass and the rates for the subclass and property class shall be in the same proportion to each other as the tax rates for school purposes for the subclass and property class are to each other. O. Reg. 712/98, s. 2 (2).