Business Tax Incentives

A tax rebate incentive program for Businesses

The Policy objective is to encourage businesses to beautify the front appearance of their structure or front property through a financial incentive in the form of a tax rebate in the taxation year following the improvements.

Business owners would have until June 30th in any given year to submit plans and estimated costs for review for improvements to the front appearance of their business.  Plans would be approved by special committee consisting of two members of Council and two members of the Rosetown Chamber of Commerce.

Business location priority for approval would be as follows:

  1. Highway #7
  2. Highway #4
  3. Main Street
  4. Other commercial business locations

Tax abatement would be credited to  the following year's taxes and would be as follows:

  1. Expenditures over $1,000 but less than $2,000 would receive a tax abatement of $250.00
  2. Expenditures over $2,000 - for every $500 increase in expenditure, a further $50 tax abatement, to a maximum of $500, will be granted

All improvements to be completed by August 31 and a copy of the invoice expenditures to be turned into the Town as documentation for determination of the tax abatement amount.

The Town would budget $6,000 per year.   Once total rebates from approved submissions have reached the budget amount, all other applications would be informed that they will be placed into the next year for approval.

To be eligible for the tax abatement, the business must have all arrears of taxes paid in full and the following year must pay the remaining taxes by May 31.

 

Tax Rebate