On May 8, 2023, County Council passed a Non-Residential Tax Incentive Bylaw to encourage the development of non-residential properties in the County of Wetaskiwin. The tax incentive will be calculated for three (3) years under a 50/30/10 rule. In the first year, the municipal tax payable will be reduced by 50%; in the second year, the municipal tax payable will be reduced by 30%; and in the third and final year the municipal tax payable will be reduced by 10%.
Criteria for a Partial Exemption
10. In order to qualify for a Partial Exemption, a Non-Residential property must meet the following criteria:
the subject Non-Residential property must be located within the geographical boundary of the County.
there must be no outstanding monies owing to the County related to the property.
the property must provide Commercial or Industrial services in the Class 2 assessment as specified in the Act; and
the property must be assessed by the County at $2,000,000 or greater.
11. In addition to Section 10, the property must meet the following criteria:
the property must make a capital investment to expand, improve, renovate, or revitalize the Non-Residential property resulting in an increased assessment value of $2,000,000 in the assessment year preceding the application.