Being a by-law to adopt the estimates for all sums required for the year, to provide for the adoption of tax rates and to further provide for penalty and interest in default of payment thereof
for 2007.

Whereas the Council of the Corporation of the Township of Nipissing has in accordance with the Municipal Act considered the estimates of the Municipality and the Boards and Commissions of the Township and it is necessary that the following sums be raised by taxation for the year 2007.

General Purposes 1,492,500

Education purposes 564,713

And whereas the assessment roll was made in the year 2006 upon which the 2007 taxes are to be levied.

Whereas Section 312(2) of the Municipal Act, Chapter 25, S.O. 2001, provides that the Council of a local municipality shall, after the adoption of estimates for the year, pass a by-law to levy a separate tax rate on the assessment in each property class, and;

Whereas Sections 308 and 309 of the said Act require tax rates to be established in the same proportion to tax ratios; and

Whereas the 2007 levy for all purposes has been set at $2,057,213; and

Whereas certain regulations require reductions in certain tax rates for certain classes or subclasses of property.

Now therefore the Council of the Corporation of the Township of Nipissing Enacts as follows:

1. That a tax rate is hereby adopted to be applied against the whole of the assessment for real property in the following classes:

Residential Commercial Commercial Industrial Industrial Farmlands Managed
and Farm Occupied Vacant Occupied Vacant Forest

EDUCATION .00264000 .01216945 .00851862 .00242176 .00157414 .00066000 .00066000

GENERAL .00737329 .00669716 .00468801 .00198931 .00129305 .00184332 .00184332

2. That every owner of land shall be taxed according to the tax rates in this by-law and such tax shall become due and payable on the 30th day of September, 2007.

3. If taxes are not paid on the due date, a penalty shall be imposed consisting of a percentage charge of one and a quarter percent on the first day of default , and an additional one and a quarter percent per month thereafter during the year, until the taxes are paid.

4. On all taxes in default on January 1st, 2008, interest shall be added at the rate of one and a quarter percent per month for each month or fraction thereof in which the default continues.

5. The collector may mail or cause the same to be mailed to the residence or place of business of such person indicated on the last revised assessment roll, a written notice specifying the amount of taxes payable.

Read the first, second and third time and passed this 12th day of June, 2007.