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New Business Property Tax Incentive

April 15 2021

A new property tax incentive bylaw (Bylaw 1695) has been adopted by Council that will benefit businesses that renovate, expand or construct new buildings.

The new bylaw allows eligible properties to apply for five years of tax exemptions, with the first year's tax exception being 100% of any increases to assessment. The intent of this bylaw is to give businesses an incentive to build in Cardston, or invest in improving their businesses without having to worry about the immediate burden of additional taxation due to an increase in assessed value.

If you are the owner of a non-residential property in Cardston, and have made any new developments, additions, expansions, or renovations that have caused an increase to the assessed value of you property by at least 25%, you may apply for this tax exemption using the form found in Bylaw 1695.

The details are as follows:

  1. Developments must conform to the Town of Cardston Land Use Bylaw No. 1647 and amendments thereto, and all other applicable regulations.
  2. All eligible development must be non-residential and of a permanent nature.
  3. Additions, expansions or renovations are only eligible if the assessed value of the total property is greater than or equal to an increase of 25% or more than the previous assessment. This tax exemption will only apply to this increased assessment amount.
  4. The program cannot be combined with any other tax credit policy that may be offered by the Town.
  5. This tax exemption will be transferable to new ownership.
  6. Applicants will need to apply for this tax exemption using the application form found in Schedule A of Bylaw 1695.
  7. For applicants who are applying for new development, additions, expansion, or renovations the period of tax exemption is five (5) years pro-rated as follows:

    Tax year after assessment increase of more than 25% Tax Increase Exemption
    Year 1 100%
    Year 2 80%
    Year 3 60%
    Year 4 40%
    Year 5 20%
  8. Applications must be submitted before June 30th, in the first tax year after the eligible assessment increase.
  9. The tax exemption will begin in the taxation year following the completion of the development, unless otherwise agreed upon by all parties.

For more details, please contact the Town Office.

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