The statute text
131 (1) If the municipal property tax for a residential complex is reduced by more than the prescribed percentage, the lawful rent for each of the rental units in the complex is reduced in accordance with the prescribed rules.
(2) The rent reduction shall take effect on the date determined by the prescribed rules, whether or not notice has been given under subsection (3).
(3) If, for a residential complex with at least the prescribed number of rental units, the rents that the tenants are required to pay are reduced under subsection (1), the local municipality in which the residential complex is located shall, within the prescribed period and by the prescribed method of service, notify the landlord and all of the tenants of the residential complex of that fact.
(4) The notice shall be in writing in a form approved by the Board and shall,
(a) inform the tenants that their rent is reduced;
(b) set out the percentage by which their rent is reduced and the date the reduction takes effect;
(c) inform the tenants that if the rent is not reduced in accordance with the notice they may apply to the Board under section 135 for the return of money illegally collected; and
(d) advise the landlord and the tenants of their right to apply for an order under section 132.
(5) A local municipality that gives a notice under this section shall, on request, give a copy to the Board or to the Ministry.
View this section on the official Ontario e-Laws site →
Reproduced under the King’s Printer for Ontario / Open Government Licence – Ontario. Confirm against the official e-Laws consolidation before relying on it.