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Commercial Tax Incentive

The Town of Thorsby wishes to encourage growth and development of our community and provides a commercial tax incentive program for those who wish to build within our municipal borders. Per the Commercial Tax Incentive Bylaw #2022-06, an application process is provided to be considered for a Tax Incentive Agreement. It is highly encouraged for potential applicants to thoroughly read through the bylaw.

Complete applications must be submitted after all required Town development approvals with respect to the development or revitalization have been issued, and complete applications must be received on or before the date that is sixty (60) days after the date on which construction of the development or revitalization has commenced. Complete applications must be received on or before October 01 of the year prior to the year in which the requested exemption is to commence.

Complete applications may be considered and approved in accordance with the requirements of the Commercial Tax Incentive Bylaw #2022-06 before construction of the Development or Revitalization of the Qualifying Property is complete, however, the exemption will not apply until all such construction is complete and has been inspected and approved for occupancy.

All complete applications will be reviewed by Administration to determine if it meets the criteria and requirements for an exemption, and provide a written report with recommendations to Council. Council shall review the complete application and Administration's report, and may pass a resolution directing Administration to enter into a Tax Incentive Agreement, or may refuse the complete application.

Available Incentives

  • New Business Construction
    • In the first taxation year identified in the Tax Incentive Agreement, the Qualifying Property shall receive a 50% exemption
    • In the second taxation year identified in the Tax Incentive Agreement, the Qualifying Property shall receive a 25% exemption
    • In the third taxation year identified in the Tax Incentive Agreement, the Qualifying Property shall receive a 15% exemption

  • New Business Established in an Existing Building
    • In the first taxation year identified in the Tax Incentive Agreement, the Qualifying Property shall receive a 25% exemption
    • In the second taxation year identified in the Tax Incentive Agreement, the Qualifying Property shall receive a 15% exemption

Application Fee

The application fee to submit a commercial tax incentive application is $500.00. Payment can be made over the phone to 780-789-3935, by cheque made to the Town of Thorsby, or in-person at the Town Office (4917 Hankin Street, Thorsby AB, T0C 2P0) during regular business hours.