Business and Tax Incentives

Business Development Incentive Policy

For new business construction, additions and renovations:

The Council of the Town of Rosetown wishes to create development incentives to enhance business development and growth opportunities in the commercial and industrial districts within the municipal boundaries of the Town of Rosetown through the use of property tax exemptions and defined development incentives.

Tax exemptions will be calculated on the property taxes resulting from the property assessment associated with the new construction, addition of square footage, and renovations (note: maintenance does not qualify as renovations).

Helpful Documents

Tax Rebate Incentive Program for Businesses

Beautify your business and receive a tax rebate!

The Town of Rosetown is offering a tax rebate to local business owners who improve the front appearance of their structure or front property. If approved, tax abatement’s are credited to the following year’s taxes:

  • $250 for expenses over $1,000 but less than $2,000
  • $50 in addition for every $500 spent (to a maximum of $500)

Examples of successful projects

  • Windows
  • Doors
  • Siding
  • Brickwork and exterior finishing
  • Roof-line and front facade
  • Landscaping

Submitting Plans

Submit your plans, cost-estimates and photos to the Town for approval by June 30. Applications can be submitted in person or by email.

Plans will be considered by a special committee consisting of two members of Council and two members of the Rosetown Chamber of Commerce.

Business location priority for approval is as follows:

  1. Main Street
  2. Other commercial business locations

Tax Abatement

A tax abatement would be credited to the following year’s taxes and are as follows:

  • Expenditures over $1,000 but less than $2,000 would receive a tax abatement of $250
  • Expenditures over $2,000: for every $500 increase, a further $50 tax abatement, to a maximum of $500

All improvements to be completed by August 31 and a copy of the invoice expenditures to be submitted to the Town as documentation for determination of tax abatement amount. The Town will budget $6,000 per year. Once total rebates from approved submissions have reached the budget amount, all other applications will be informed that they will be considered the following year.

Eligibility

To be eligible for the tax abatement, the business must have all areas of taxes paid in full and in the following year, must pay the remaining taxes by May 31. Applicants must also own the property in which improvements were made.

Helpful Documents

Developers

Any two or more lot purchases in the Civic Centre sub-division will qualify for a 15% deduction in the purchase price. Lots require a 10% deposit. The remainder of the purchase price will be deferred for one year. However the lots must be built on in two years time.

Any multi-unit housing development will qualify for a $5,000 incentive from the Town after the unit is completed. A provincial program may match this incentive provisional on available funding.