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New Commercial Tax Incentive Program in Bonnyville

BONNYVILLE – There’s a new Commercial Incentive Program being offered by the Town of Bonnyville that will provide tax incentives for some non-residential property owners who qualify if they construct new buildings or renovate existing ones.

The program is structured to provide qualifying properties with a tax reduction on increased assessment values for new or renovated construction, provided the increase in improvement value on the property is at least $25,000.  The program provides 100% tax forgiveness on the additional value for 3 years, a further 75% reduction for year 4 and a 25% reduction in the 5th and final year.

For example, if a non-residential property owner was to build on an empty piece of land, they would pay taxes only on the land value, and nothing on the building value, for the first 3 years. In year 4, they would pay taxes on the land, and only 25% of the building value and in the 5th and final year they would pay taxes on the land and 50% of the building value.

 “The Town has some exciting opportunities ahead of us with proposed developments and local businesses that want to expand,” detailed Town of Bonnyville Mayor Elisa Brosseau. “This program positions the Town as the leading destination in the Lakeland region for business. We already have the lowest non-residential taxes in the region and this aggressive incentive program positions the Town as the preferred destination for existing businesses and entrepreneurs to start and grow their business.”

For specific program information visit: town.bonnyville.ab.ca/commercial-tax-incentive-program/ or contact

Mark Laver

Economic Development Officer

780.826.3496

 mlaver@town.bonnyville.ab.ca