In September, Wheatland County voted to give large investors a municipal tax break.
According to the county, changes to the Municipal Government Act were implemented in June 2019 allowing municipalities to offer incentives to reduce, exempt, or defer the collection of property taxes for non-residential properties for up to 15 years. The bylaw provides eligible investments with a 40 per cent exemption on municipal property tax for non-residential improvements, for three years from the first fully taxable year.
“The tax incentive is a vital part of positioning Wheatland County as being the best investment destination for business. Wheatland County Council has been laser-focused on cultivating an environment that fosters economic growth. This new tax initiative aligns with two of our Strategic Plan key priorities, Strong Economy and Sustainability, and is one tool in both our Business Attraction Strategy and our Business Retention and Expansion Strategy. It will contribute to financial sustainability of Wheatland County by diversifying our rural economy. This is an example of putting plans into action,” says Reeve Amber Link.
“We need employment opportunities that are well paid, have prospects for career advancement and will capitalize on our long-standing, strong work ethic that built Wheatland County. We need these opportunities to retain our youth. We know Wheatland County is the best place to live and work and we are making it the best place for businesses to locate and grow,” Link says.
“Eligible investors must have an increase in assessable improvements and/or machinery and equipment of $10,000,000 over the base assessment year. The bylaw applies to both new investments and expansions. Application and appeals processes are currently being developed by Wheatland County’s Assessment Division,” says General Manager of Corporate and Financial Services, Tracy Buteau.