Tax Incentive for New Businesses

The Sexsmith Advantage Tax Incentive Program

 For new commercial tax assessment and residential developers, upon written request, Town Council may grant relief for the Municipal portion of tax in these amounts:

 New Commercial or Industrial Development

• 50% in the first full year of operation, and;
• 25% in the second and third years of full operation.

Newly Constructed Addition to an Existing Building on a Commercial or Industrial Property

• 25% in the first and second years of full operation.

Vacant Residential Land Being Held for Resale

• 75% in the first taxation year following subdivision;
• 50% in the second taxation year following subdivision , and;
• 25% in the third taxation year following subdivision.

Tax incentives for Small Business

The Town of Sexsmith has a spit tax bylaw in order to offer taxes at a lower rate to a small businesses and has been made possible in accordance with the Municipal Government Act.

A municipality must do this by bylaw and must define in the bylaw what a small business is in their community.

The Town of Sexsmith has defined a small business property as a property in the municipality other than designated industrial property having 5 or fewer employees, owned or leased by a business {where the Lessee pays the property tax as part of their Lease agreement} operating under a business license issued by the municipality.

Interested applicants must submit an application by March  31 of the year to be eligible. 

Please be advised you must re-apply on an annual basis.

The application requirement is so that proper budgeting for the coming year can be completed.

Click here for the Annual Small Business Declaration application or stop by the Town office located at 9921-100 Street.

 

Click here for Bylaw No. 983 Providing Application to Council for Tax Relief