Tax Incentives

Industrial and Commercial Tax Incentives

Eligibility Criteria

To be eligible for a Tax Exemption, the following eligibility criteria must be met: 

• Requirements for a Project:  
  • be within the Industrial Use Class or Commercial Use Class; 
  • be a New Construction, Major Renovation, or Expansion Project; 
  • Project commenced: 
    • subsequent to the passing of this Bylaw; or 
    • prior to passing of this Bylaw but not operational at the time of the passing of this Bylaw; and 
    • had a development Permit issued on or after January 1, 2025; and 
  • deploy Eligible Capital Costs of more than $150,000 (Canadian dollars), and have a change in assessed value of more than $150,000 (Canadian dollars).  
• Requirements for a Qualifying Property: 
  • be physically located in the geographic area of the Town; 
  • obtain all necessary development approvals from the Town; 
  • not be in arrears or have amounts owing with regards to property tax, utilities, or other fees owed to the Town; 
  • not going through foreclosure; and 
  • not in violation of a development agreement or the Safety Code Act at any time during the term of Tax Incentive Agreement.