Fort Frances tax hikes.Fort Frances's 2001 budget may face a severe burden if proposed tax reforms go ahead, officials say. If the province implements Bill 140 - which will cap industrial, commercial and multi-residential tax levels - and reforms are retroactive Having reference to things that happened in the past, prior to the occurrence of the act in question. A retroactive or retrospective law is one that takes away or impairs vested rights acquired under existing laws, creates new obligations, imposes new duties, or attaches a to Jan. 1, 2001, town council will be forced to make severe budget cuts or throw the entire 2001 tax increase on taxpayers. Under the upcoming reforms, the tax cap will be put onto all industrial, commercial and multi-residential tax levies in order to ease tax burdens on development. But those tax caps may already be above Fort Frances's tax ratios. Council has already approved a two-per cent tax levy To assess; raise; execute; exact; tax; collect; gather; take up; seize. Thus, to levy a tax; to levy a Nuisance; to levy a fine; to levy war; to levy an execution, i.e., to levy or collect a sum of money on an execution. A seizure. increase for 2001 but, under the impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. legislation, council would have to go back and re-assign the entire increase onto residential taxpayers or find a way to function without the increase. |
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