NEW! Tax incentives for new industrial or commercial greenfield development
Under the new Non-Residential Land Development Tax Incentive Bylaw, non-residential vacant lots are eligible for a reduction in mill rate, subject to certain conditions. The program will begin January 1, 2025.
To be eligible for non-residential tax reduction, the following criteria must be met and maintained over the course of the reduction period:
(a) The applicant shall have entered into a development agreement with the Town for the creation of new non-residential serviced Lots in accordance with Town standards, bylaws and area structure plans;
(b) A subdivision plan has been approved by the Town and registered at Land Titles;
(c) Construction of all required municipal and utility services to service new nonresidential Lots must be substantially complete in accordance with a development agreement;
(d) The non-residential development area is zoned for commercial or industrial use, pursuant to the Town's Land Use Bylaw, as amended.
See complete details and criteria in the Non-Residential Land Development Tax Incentive Bylaw.
Questions? Contact the Planning & Community Development Department today! Phone 403-847-5260.
