TAX INCENTIVE PROGRAM
Commercial/Industrial 3 Year Growth Tax Incentive Program
Year 1: 100%
Year 2: 100%
Year 3: 100%
Any new Municipal Taxes which result from an increase in the assessed value of a property due to new construction of a commercial or industrial building, or a substantial building addition or expansion of more than 25% of the original assessed value of the property will be eligible for an incentive for a period of three full years. The incentive for all three years of the program shall be calculated to equal 100% of the municipal taxes, derived by applying the municipal tax rate to year 1 supplementary building assessment.
Contact SEED for more information and a copy of the by-laws.