THE REGIONAL MUNICIPALITY OF PEEL

BY-LAW NUMBER 33-2000

WHEREAS Council has by By-Law 32-2000 made Division B of Part XXII.2 of the Municipal Act, R.S.O. 1990, c.M.45, as amended (the "Act") apply for the year 2000 with respect to property in the Regional area that is in the commercial property class, the industrial property class and the multi-residential property class;

AND WHEREAS Division B of Part XXII.2 of the Act provides for an optional scheme for setting taxes whereby the capping of taxes for certain property classes is financed by means of a phase-in of tax decreases for certain properties within the same property class;

AND WHEREAS subsection 4 of section 447.51 of the Act requires that a tax decrease phase-in for a property for a year shall be determined in accordance with paragraphs 1 through 3 of subsection 4 of section 447.51;

AND WHEREAS in the absence of a determination by regulation which occurred in part for prior years pursuant to Ontario Regulation 230/99, it is necessary pursuant to subsection 4 of section 447.51 of the Act and subsection 6 of section 31 of Ontario Regulation 7/99, as amended by Ontario Regulation 348/99 to determine the percentage of the tax decrease phase-in for property in the multi-residential property class, industrial property class and commercial property class for the year 2000.

AND WHEREAS difficulties with obtaining appropriate frozen assessment listing data have prevented the calculation of the tax decrease phase-in percentages in a timely manner;

AND WHEREAS the calculation of the tax decrease phase-in percentages is an administrative function;

AND WHEREAS Council is authorized under Section 102.1 of the Municipal Act R.S.O. 1990 Chap. M.45 as amended to delegate by by-law to an employee of the Regional Corporation powers that are administrative in nature;

AND WHEREAS it is desirable that Council ratify by by-law the calculation by the Treasurer and Commissioner of Finance of tax decrease phase-in percentages for 1998 and 1999 pursuant to the delegation to the Treasurer and Commissioner of Finance of authority under By-Law 81-1999

NOW THEREFORE, the Council of the Regional Corporation enacts as follows:

1. That the power to make the determination of percentages required under paragraph 2 of subsection 447.51(4) of the Act for the purposes of paragraph 1 of subsection 447.51(4) of the Act for property in the multi-residential property class, the industrial property class and the commercial property class for 2000 be delegated to the Treasurer and Commissioner of Finance.
2. That the tax decrease phase in percentages and correlative clawback percentages for 1998 and 1999 set out below as calculated by the Treasurer and Commissioner of Finance are hereby ratified and adopted with retroactive effect to the date upon which such calculations were made:

READ THREE TIMES AND FINALLY PASSED IN OPEN COUNCIL this 30^th March, 2000.