E-16 - Real Estate Assessment Act

Full text
112. From the fiscal year beginning in 1972 of a municipal corporation or school board in the territory of which immoveables are situated which, by reason of section 22, will no longer be entered on the roll, such immoveables, as long as they exist, shall be subject to real estate taxes decreasing annually at 1/5 the amount of the real estate taxes payable in the municipal or school fiscal year begun in 1971; in the case of immoveables entered by reason of section 22 at a value less than that entered for the fiscal year begun in 1971, such gradual abatement shall apply to the amount of the difference between the real estate taxes payable in 1971 and those payable in 1972.
Each such annual instalment shall constitute a debt assimilated to a real estate tax levied on the immoveables of such an owner situated in the territory of the municipal or school corporation and not exempt from real estate taxes or school assessments.
1971, c. 50, s. 117; 1972, c. 46, s. 28; 1973, c. 31, s. 61.