NEW! Tax incentives for new or expanding development.
If you are considering a new business development or expansion of an existing business, read on!
Non-Residential Tax Incentive Bylaw 2023/06
Application Form
Under the new non-residential tax incentive bylaw, new commercial or industrial developments, or expansions of existing developments, with assessed values of $100,000 or more, can apply for a one-year tax exemption. Developments valued over $250,000 could see a 100 per cent tax exemption in year one, and a 50 per cent tax exemption in year two. Higher-valued developments would be eligible for up to 5 years of tax exemptions
Tax exemptions for new development would not be granted automatically. Property owners would have to apply for the program and meet other criteria such as:
- Be compliant with all applicable municipal, provincial and federal regulations.
- Hold all municipal accounts in good standing (ie: utilities, taxes and development permits).
- Pay applicable education and seniors housing requisitions in full, as the tax exemption would only apply to the municipal portion of property taxation, Tax exemptions will only be applied to new construction or expansion developments - not to the land.
Non-Residential Tax Incentive Bylaw 2023/06
Application Form
Read all about it Information Bulletin
Questions? Contact the Planning & Community Development Department today! Phone 403-847-5260.
