Proposed commercial and industrial municipal tax incentive bylaw for Lethbridge County needs feedback
Council is looking for public feedback on a proposed Commercial and Industrial Municipal Tax Incentive Bylaw. Your input will help guide further discussion of the bylaw before it is brought back to Council for a second reading.
What is the proposed bylaw?
At the April 21st Council meeting, Council reviewed a draft Commercial and Industrial Municipal Tax Incentive Bylaw. This bylaw is for an incentive program that would provide eligible businesses a short-term exemption from paying municipal taxes for four years.
Below are some of the proposed conditions which a business would have to meet to qualify for the exemption:
• New construction value or upgrading of existing development at a minimum of $50,000 assessment value increase
• If the County determines that installing municipal infrastructure is required to support the new or renovated development, a reduction of the exemption may apply
• The tax incentive rebate would be as per the following table based on the assessment value post construction: (GRAPH GOES HERE)Why is the County considering a tax incentive bylaw for businesses?
The purpose of this incentive is to attract new development to Lethbridge County and encourage expansion of existing businesses. Some neighbouring municipalities have a similar tax incentive policy or bylaw, which may leave Lethbridge County at a competitive disadvantage, which is the reason for Council considering this bylaw now.
This initiative aligns with the four pillars in the County’s 2022-2032 Strategic Plan: GOVERNANCE, RELATIONSHIPS, REGION & PROSPERITY.
Why is the County looking for feedback on the proposed bylaw?
Lethbridge County is looking for public feedback to ensure due diligence, transparency, and that the communities’ best interests are being met. Building relationships through communication and fostering an environment that will encourage investment in innovation and technology is of the upmost importance to the County.
How do I give my feedback? Please take a few minutes to provide your input on the proposed Commercial and Industrial Municipal Tax Incentive
Bylaw by answering the six questions below.
Please provide your feedback by 4:00 p.m. on Friday, June 10.
Input will be presented to Council at the July 7 Council meeting.
“Recognizing that a tax incentive bylaw is a significant decision for a municipality, Council wanted to ensure the public has the opportunity to view the proposed bylaw and provide their input. Feedback will be used to help guide further discussion at the Council table so we can make the best choice for the community.”
- Reeve Tory Campbell
Please note: this proposed bylaw applies only to Lethbridge County and not the City of Lethbridge, which is a separate municipality.
To take the survey please see: https:// whatshappening.lethcounty.ca/proposedtax-incentives?tool=survey_tool#tool_tab