Non-Residential Property Tax Incentive
The Non-Residential Tax Incentive (Bylaw 7-2021) aims to further stimulate economic development in the community by attracting new investment and encouraging expansion of existing development. This Bylaw leverages authority given to municipalities by the province to provide business incentives and encourage economic growth in our community.
"For example, a new business investing $25 million could realize approximately $1.3 million in municipal tax exemption over 3 years."
What is Eligible?
The County of Barrhead Non-Residential Tax Incentive Bylaw provides municipal tax exemptions that apply to:
New construction or improvements will benefit from a municipal tax exemption for up to 3 years, depending on the increase in assessment (either "non-residential" or "machinery & equipment" assessment).
- "Non-Residential" and "Machinery & Equipment" Assessment Classes
- New construction, equipment, and improvements that result in an increased assessment.
The County also recognizes the importance of retaining existing business, so the minimum threshold to qualify for an exemption is a $20,000 increase in assessment.
Find more information regarding the Non-Residential Property Tax Incentive here:
For more information or application inquiries, please contact the County Office at 780-674-3331 or email firstname.lastname@example.org.