The District of Elkford is asking residents for feedback on a newly introduced tax exemption bylaw designed to help encourage commercial property investment, improvements to accessibility and the revitalization of the downtown area.

District council has given first and second reading to Revitalization Tax Exemption Bylaw No. 864, 2022. This bylaw offers municipal property tax exemptions for eligible projects located in the Town Centre Commercial zone of the District’s Zoning Bylaw.

Properties subject to bylaw include all Town Centre Commercial (C-1) zoned properties.

Eligible projects including creation of new, or improvements to existing principle uses within C-1 zoned properties that have a construction value as outlined in this link.

Exemptions will only be for the municipal portion of the property taxes applicable to the related improvement (i.e., will exclude land and existing improvements and other portions of taxes such as regional district and hospital taxes).

Exemptions will range from five to a maximum of 10 years.

“Council has adopted a downtown plan that identifies areas of opportunity for commercial development and wishes to encourage revitalization of those areas through incentives for the success of the local economy and the enhancement of business, social, cultural, government and residential activities, thus achieving council’s objectives,” the district outlined.

Click the above link to access the district’s survey.

e-KNOW file photo

e-KNOW

---

Article Share

---