The City has a tax incentive to construct a new, or move in a used, owner occupied home to the Inner City Area. The City is prepared to grant a property tax assessment exemption on the improvements to these properties.
The City will grant an exemption from tax assessment for a period of 5 years on new and owner occupied, single family, duplex homes, condominiums, or RTMs constructed in the Inner City Area. The City will grant an exemption from tax assessment for a period of 3 years on used and owner occupied single family or duplex homes that have been moved into the Inner City Area. The homes must be upgraded as per the City's requirements.
To be eligible, the building permit for homes must have been issued after Dec 15, 1996. The tax assessment exemption is only available on the improvements on the property; the land itself is still subject to taxation.
- The property owner(s) will be required to fill out an "Application for a Conditional Tax Assessment Under the Inner City Housing Initiative".
- Upon acceptance by Planning and Growth Development that all of the necessary work has been done and all of the necessary documents have been submitted, the property owner(s) shall sign a "Tax Assessment Exemption Agreement- Inner City Housing Initiative". Upon signature, the agreement will be submitted to Council for approval and a bylaw will be passed by Council granting the tax assessment exemption for the agreed upon time period and for so long as the conditions of the agreement are met.
- Complete and correct applications received by the City will have the tax assessment exemption start from the date of occupancy. The exemption will be for the total time outlined in the policy and the agreement.
TAX EXEMPTION FOR RESIDENTIAL DWELLINGS THAT HAVE SPRINKLER SYSTEMS INSTALLED
This Tax Incentive Policy is a program to assist in the costs of installing residential sprinkler systems in residential dwellings construction within the City of Swift Current. Conditions of Eligibility for the Tax Exemption are outlined on the Application for a Tax Exemption for Residential Dwellings that have Sprinkler Systems Installed.
Still have questions? Contact: Planning and Growth Development at 306-778-2740 or firstname.lastname@example.org