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Municipal Financial Information - Grants Section 3 of the Municipal Grants Act provides for the payment of grants-in-lieu of taxes on eligible provincial property. The grants paid are equal to full taxes that would be paid if the property were taxable. Provincial properties in respect of which no grant is paid are hospitals and health care facilities, educational institutions, facilities for the permanent display of art and cultural and historical information including historical sites, water and sewage systems other than on-site systems, and property of an agency, authority, board, commission, or Crown corporation, or those of the Minister of Community Services pursuant to the Housing Act. In addition, a grant-in-lieu of taxes is paid equal to 100 percent of full taxes with respect to the residential property of post-secondary educational institutions and hospitals. Equalization Grant Section 8 of the Municipal Grants Act provides for the payment of an equalization grant which is in the form of an unconditional transfer. The grant is based on a formula which compares expenditure need and ability to pay with those municipal units that have greater expenditure need.
Farm Land Grant Pursuant to Section 77 of the Municipal Government Act the Department shall pay a grant in respect of exempt farm property based on acres.
The grant is annually indexed by the Consumer Price Index for Canada. |
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