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Bear Head L.N.G. Plant Municipal Property Taxation Regulations

made under Section 5 of the

Oil Refineries and L.N.G. Plants Municipal Taxation Act

S.N.S. 2004, c. 8

O.I.C. 2014-227 (June 24, 2014, effective July 1, 2014), N.S. Reg. 99/2014


Citation

1     These regulations may be cited as the Bear Head L.N.G. Plant Municipal Property Taxation Regulations.


Interpretation

2     In these regulations,

 

                (a)    “Act” means the Oil Refineries and L.N.G. Plants Municipal Taxation Act;

 

                (b)    “Bear Head L.N.G. plant” or “plant” means the liquified natural gas plant to be located at Bear Head in the Municipality of the County of Richmond.


Application

3     (1)    Subsection 2(1) of the Act applies to the 2005-2006 municipal taxation year and subsequent municipal taxation years with respect to the Bear Head L.N.G. plant.

 

       (2)    In addition to the taxes listed in subsection 2(1) of the Act, taxes pursuant to Section 80 of the Municipal Government Act are not payable with respect to the Bear Head L.N.G. plant.


Municipal taxes payable before commercial operations commence

4     The amount of municipal taxes payable with respect to the Bear Head L.N.G. Plant before the municipal taxation year in which commercial operations commence at the plant is based on the commercial rate of taxation multiplied by the assessed value of the plant and the property where the plant is located, commencing July 1, 2014.

Section 4 replaced: O.I.C. 2014-227, N.S. Reg. 99/2014.


Initial municipal taxes payable

5     (1)    The amount of municipal taxes payable with respect to the Bear Head L.N.G. plant in the municipal taxation year in which commercial operations commence [at the plant] is $3 000 000 at the plant.

 

       (2)    Despite subsection (1), if the Bear Head L.N.G. plant is engaged in commercial operations for only part of the first municipal taxation year in which commercial operations commence at the plant then

 

                (a)    the municipal taxes payable with respect to the plant for the first municipal taxation year in which commercial operations commence at the plant are prorated as follows:

 

                         (i)     during the part of the year in which the plant is engaged in commercial operations, based on the amount payable under subsection (1),

 

                         (ii)    during the part of the year in which the plant is not engaged in commercial operations, based on the amount payable under Section 4; and

Clause 5(2)(a) replaced: O.I.C. 2014-227, N.S. Reg. 99/2014.

 

                (b)    the amount of municipal taxes payable with respect to the plant in the next municipal taxation year is $3 000 000.


Municipal taxes increase for costs

6     Despite Section 5, if the costs to build the Bear Head L.N.G. plant exceed $481 500 000, the municipal taxes payable under Section 5 are increased in the same proportion that the amount of costs bears to $481 500 000.


Municipal taxes payable in subsequent years

7     The amount of municipal taxes payable with respect to the Bear Head L.N.G. plant are increased in each municipal taxation year after the first full year of commercial operations at the plant by [an] amount equal to the taxes for the preceding municipal taxation year multiplied by the lesser of

 

                (a)    50% of the first 4% increase in the Nova Scotia Consumer Price Index, All Items, Nova Scotia as of December 31 in the year immediately preceding the municipal taxation year plus 100% of the percentage increase in excess of 4% in the Nova Scotia Consumer Price Index, All Items, Nova Scotia as of December 31 in the year immediately preceding the municipal taxation year; and

 

                (b)    6%.