THE CORPORATION OF THE TOWNSHIP OF MACHAR

 

BY-LAW NO. _____

 

Being a by-law to establish a Penalty

Charge for non-payment of CURRENT TAXES.

 

 

WHEREAS under the provisions of The Municipal Act, S.O., 2001 c. 25 as amended, Section 345(2), a municipality may impose penalties on unpaid and overdue taxes which were

levied in the current calendar year.

 

AND WHEREAS overdue taxes are those taxes which have been levied in the current calendar year which are due and unpaid;

 

NOW THEREFORE the Council of the Corporation of the Township of Machar enacts as

follows:

 

1: That the penalty charge to be imposed on due and unpaid taxes shall be at the rate of 15% per annum as authorized under the provisions of The Municipal Act, S.O., 2001 c. 25 as

amended, Section 345(2).

 

2: That the rate of 15% per annum as penalty for non-payment of taxes 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 December 31 of the year during which such taxes are levied.

 

3: That no interest added to taxes shall be compounded.

 

4: That this by-law shall take effect on the 1st day of January 2011.

 

 

READ A FIRST, SECOND, THIRD TIME AND FINALLY PASSED THIS 10TH DAY OF JANUARY 2011.

 

 

.

Per Mayor Doug Maeck

 

 

..

Per Clerk-Administrator Brenda Paul, AMCT

 

 

 

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