Revitalization Tax Exemption

Helping business thrive

The reasons and objectives for the revitalization tax exemption program are to:

• provide owners with an economic incentive for construction
• encourage the development of a wide variety of buildings and uses in the District
• increase development, foot traffic, activity, and animation of the District
• increase local employment opportunities

Eligible property will be limited to new construction or renovation of existing buildings in the District that results in a non-market change to the value of a lot within the District of at least $150,000.

An exemption will apply for three years and will be applied as follows:

• 100% exemption in the first year
• 50% exemption in the second year
• 25% exemption in the third year

Full municipal property taxation would be applied in the fourth and succeeding years.

Please view the following bylaws

• Revitalization Tax Exemption Bylaw No.1353, Amended by Bylaw No. 1486

Contact us for full program details and eligibility.