Tax break for developers to be re-visited by council

Council has agreed to re-open discussion around a tax break offered to Rimbey developers.

 

By Treena Mielke

A tax break for Rimbey developers introduced last year will be re-visited.

The agreement allows residential spec built homes to remain at the bare land tax rate for the duration of one year from the time the construction is complete.

The reduced rate is available for one year and a minimum of two spec homes must be built and a maximum of five must be completed to participate in the program.

Construction must not take longer than one year.

The incentive was developed to align with the municipal government act and attract additional residential development within the town’s boundaries.

However, developer Paul Kusch, who attended Monday’s council meeting had some concerns with the incentive.

He said in view of the present economic situation developers may be only able to build one home, but still deserved a tax break.

“I don’t feel you guys are working with developers,” he said. “I don’t really think you’re helping the builders. I think you should reduce it to one. I really think you should re-think this.”

Mayor Rick Pankiw said the intent of the tax incentive was to ensure developers were singled out for the incentive, and it wasn’t available to residents who had another full-time job, but were building their own home.

However, council agreed to re-open the discussion at its first meeting in May.

 

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