CHAT News File Photo

By Chris Brown

Applications for city tax incentive open Monday

Jul 6, 2022 | 9:39 AM

MEDICINE HAT, AB – A tax incentive bylaw approved at the July 4 council meeting is aimed at supporting the development of large commercial or industrial developments and the remediation of brownfield sites in the city.

The city says the bylaw provides a clear framework to ensure all development projects are treated in a fair and equitable manner, and creates a level playing field with other municipalities for attracting economic development opportunities in the province of Alberta.

The tax incentive bylaw supports the following incentives:

• Brownfield Redevelopment Tax Incentive: will provide financial assistance to non-residential property owners to remediate brownfield sites located within the City of Medicine Hat by providing tax relief for a period of up to five (5) years.
• Non-Residential Tax Incentive: will provide financial assistance to property owners in the City of Medicine Hat to develop large-scale commercial or industrial developments that result in tax assessment growth and job creation.

In 2020 the Municipal Government Act was amended to allow municipalities to grant multi-year municipal tax exemptions or deferrals in respect of non-residential properties.

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The city says applications for the tax incentive program will open on July 11 at 10 a.m., and will be processed on a first-come, first-serve basis.

Eligible applicants are encouraged to apply online.