Bylaw 1722 - The Non-Residential Property Tax Incentive Bylaw — full text

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TOWN OF CARDSTON IN THE PROVINCE OF ALBERTA BYLAW 1722 NON-RESIDENTIAL PROPERTY TAX INCENTIVE BYLAW TOWN OF CARDSTON BYLAW 1722 PAGE 1 OF 4 Table of Contents PART I - TITLE, PURPOSE, DEFINITIONS AND INTERPRETATION ............. 2 TITLE ....................................................................................................................... 2 PURPOSE ................................................................................................................. 2 DEFINITIONS ........................................................................................................... 2 RULES FOR INTERPRETATION ................................................................................ 3 PART II - GENERAL .................................................................................. 3 TERMS & CONDITIONS ............................................................................................ 3 REPEAL .................................................................................................................... 4 EFFECTIVE DATE .................................................................................................... 4 TOWN OF CARDSTON BYLAW 1722 PAGE 2 OF 4 TOWN OF CARDSTON IN THE PROVINCE OF ALBERTA BYLAW 1722 NON-RESIDENTIAL PROPERTY TAX INCENTIVE BYLAW A BYLAW OF THE TOWN OF CARDSTON IN THE PROVINCE OF ALBERTA TO PROVIDE INCENTIVE TO MAKE IMPROVEMENTS TO NON-RESIDENTIAL PROPERTIES WHEREAS, the Municipal Government Act, RSA 2000, c.M-26 and amendments thereto, namely 2019 Bill 7, authorizes municipalities to allow full or partial exemption from taxation for non-residential properties. AND WHEREAS, The Town wishes to encourage redevelopment and new development of non- residential properties within the Town. NOW THEREFORE, the Council of the Town of Cardston, duly assembled, enacts as follows: PART I - TITLE, PURPOSE, DEFINITIONS AND INTERPRETATION TITLE 1) This Bylaw may be cited as the "Non-Residential Property Tax Incentive Bylaw" of the Town of Cardston. PURPOSE 2) The purpose of this Bylaw is to encourage improvements to be made to existing non-residential properties and to provide an attractive environment for new commercial and industrial development within the Municipality of the Town of Cardston. DEFINITIONS 3) In this Bylaw: 3.1. "Assessment Differential" means the net change in assessed value of a Parcel from the Base Date to its assessed value on December 31st immediately preceding the current Exemption Year. 3.2. "Assessor" means a municipal assessor appointed pursuant to the Municipal Government Act; 3.3. "Base Date" means the assessed value of the Parcel on the date of Project approval pursuant to Schedule "B" of this Bylaw; 3.4. "Exemption Year" means any of the years in which a TOWN OF CARDSTON BYLAW 1722 PAGE 3 OF 4 Tax Exemption is applied; 3.5. "Parcel" means any lot, block, or other area in which land is held or into which it is subdivided, but does not include a highway; 3.6. "Project" means improvements to a Parcel involving the construction of a new improvement or the alteration of an existing improvement occurring over a period no more than three (3) years; 3.7. "Project Period" means the three (3) years following approval of Project pursuant to Schedule "B" of this Bylaw; 3.8. "Tax Exemption" means a non-residential municipal property tax exemption pursuant to this Bylaw; 3.9. "Town" means Town of Cardston. RULES FOR INTERPRETATION 4) The table of contents, marginal notes and headings in this Bylaw are for reference purposes only. PART II - GENERAL TERMS & CONDITIONS 5) The terms and conditions upon which a Tax Exemption may be granted are: 5.1. the Project produces improvements of a non-residential, permanent nature; 5.2. the Project either prolongs the useful life of current improvements by no less than 20 years, or establishes new improvements having a useful life of no less than 20 years, as certified by the Assessor; 5.3. the property owner must apply using Schedule "B" of this Bylaw no later than three (3) years following issuance of the Project building permit; 5.4. the property owner shall not be in arrears of taxes, utilities, or other municipal charges. 6) The property owner may choose to begin receiving Tax Exemption in the first or second tax year following Project approval. 7) Subject to section 8, once the Tax Exemption period begins it cannot be delayed, paused, or otherwise manipulated. 8) The amount of Tax Exemption provided pursuant to Schedule TOWN OF CARDSTON BYLAW 1722 PAGE 4 OF 4 Received First Reading this 8 day of July, 2025 Received Second Reading this 12 day of August, 2025 Received Third & Final Reading this 12 day of August, 2025 Signed by the Mayor and the Chief Administrative Officer this day of , 2025 TOWN OF CARDSTON MAYOR - Maggie Kronen CHIEF ADMINISTRATIVE OFFICER - Jeff Shaw "A" of this Bylaw is based on the total useful life created/added to the Parcel, as confirmed by the Assessor annually as of December 31st, within the Project Period. 9) The Tax Exemption is applied to the Assessment Differential. 10) The Tax Exemption applies to the Parcel, and continues unaffected by ownership transfer. 11) A Parcel is ineligible for any other tax credits that may be offered by the Town during the Tax Exemption period. REPEAL 12) Bylaw 1695 and any amendments thereto are repealed. EFFECTIVE DATE 13) This Bylaw shall come in force upon the date of its third and final reading. SCHEDULE "A" Non-Residential Property Tax Incentive TOWN OF CARDSTON BYLAW 1722 PAGE 1 OF 1 Added Useful Life (Years) Tax Exemption Period Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 20-29 4 Years 80% 80% 40% 20% 0% - 30-39 5 Years 100% 80% 60% 40% 20% 0% 40-49 6 Years 100% 80% 80% 60% 40% 20% 50+ 6 Years 100% 100% 80% 60% 40% 20% SCHEDULE "B" Non-Residential Property Tax Incentive TOWN OF CARDSTON BYLAW 1722 PAGE 1 OF 1 Date: Name of Property Owner (as per tax roll) Contact Name: Mailing Address: City/Town/Village: Province Postal Code Telephone Number (Main): Telephone Number (Alternate): Email Address: Legal Description of Lands for Tax Exemption: Roll: Plan: Block: Lot: Roll: Plan: Block: Lot: I/We, the undersigned, understand the conditions of eligibility and further terms set out in Bylaw 1722 (Non-Residential Property Taxation Incentive), and acknowledge I/we have authority to request tax exemption on the above mentioned properties. Applications must be submitted no later than three (3) years following issuance of the Project building permit. Full Name Signature Full Name Signature Office Use Only: Building Permit #: Building Permit Issue Date: Base Date: Base Date Assessment: Project Period End: Approved By: Year 1: Useful Life Added/Created: Year 2: Useful Life Added/Created: Year 3: Useful Life Added/Created: