The County of Stettler has given final approval to a tax incentive bylaw designed to spur commercial growth.
During its Oct. 28 meeting, council passed second and third readings of the bylaw to establish a non-residential tax exemption program.
The program provides a 100 percent municipal property tax exemption over three years for qualifying non-residential projects with a minimum capital cost of $500,000.
The exemption is open to both new developments and established local businesses looking to expand.
Applicants must be the assessed property owner, maintain good financial standing with the County, and comply with all safety codes and municipal requirements.
Projects governed primarily by provincial regulatory bodies such as oil and gas developments, confined feeding operations, and power generation projects do not qualify.
Council heard that data centre applications would qualify for the incentive, but their power generation components would not, unless provincial regulatory changes strip the County of its authority over them.
The exemptions apply strictly to the municipal portion of property taxes.
Requisitions for local RCMP, town and county recreation, waste management, and physician recruitment are excluded from the tax break.
Each application requires a $500 fee and must be submitted by Dec. 31 of the year construction is completed.
Initially proposed as a five-year sliding scale, the framework was overhauled at the Oct. 14 council meeting.
Council pivoted the program to a three-year model and broadened it to encourage local business expansions rather than solely new projects.
Author: Landin Chambers
Landin Chambers is a news reporter for Hometown Media Stettler. He has a background in broadcast news, with previous roles in Prince George, Red Deer and Calgary. You may also see him as a cameraman for the Stettler Wildcats and Stettler Imperials. Have a story idea? Email: lchambers@htproductionsmedia.ca
