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Commercial Tax Incentive

Effective: August 5, 2004

Amended:
March 1, 2006 (Had applied to Municipal only for a maximum of 5 years)

October 21, 2009 (In Section e), Council will determine when the term begins, case by case)

Rescinded: May 26, 2010

Reinstated: March 19, 2015 (With several amendments)

Policy Statement:
The Town of Rocanville will provide a tax incentive program, applicable to both the municipal and school portion of property taxes as per Section 298(5) of The Municipalities Act, for businesses based on the following criteria:

  1. The incentive shall apply to new commercial / industrial construction.
  2. The incentive may apply, upon Council’s approval, to existing businesses that have expanded and only applies to the expanded portion.
  3. The incentive does not apply to existing businesses whose expansions do not include an increase in tangible property.
  4. The incentive does not apply to existing businesses taken over by new owners.
  5. Year 1 - 100% Abatement
    Year 2 - 100% Abatement
    Year 3 - 50% Abatement
  6. On a case by case basis, Town Council will determine when ‘Year 1’ begins.
    The incentive does not apply to leased or rented property.
  7. The incentive will not be entered on the tax roll until the portion of taxes not eligible for a concession are paid. If taxes due are not received by December 31 of the current year, the incentive will not be granted for that calendar year.
  8. The incentive is valid only if the business remains in operation. In the event the business closes within the period of the agreement, the tax concession shall immediately become null and void.
  9. The tax concession shall not continue beyond the 3rd year.
  10. The tax concession may transfer to a new owner should the property be sold within the period of the agreement.
  11. The property owner is required to apply for the tax concession, in writing, prior to occupancy.

Purpose:
To encourage commercial / industrial development.