Yorkton Council approved a number of tax abatements at its regular meeting Monday.
“All properties are taxed on the basis of assessment, with tax notices being sent out last week,” explained Shannon Bell, Director of Finance with the City, adding various city policies provide tax incentives that require Council approval.
The abatements include those through the now expired Enterprise Zone Incentive Program.
While the policy has expired and is under review there are properties still covered by the program.
The program included Business Creation and Expansion, Brownfield Remediation and Vacant Property Tax Abatement.
Two properties received abatements under the program Yail Harbour Inc. and Greening Sources Holding Ltd. totally $43,693 in municipal taxes out of a total tax abatement of $61,900.
A number of other miscellaneous abatements were also approved Monday,
They included;
• The School Divisions have agreed to abate Saskatchewan Abilities and the SIGN building located at 83 North Street. The City does not abate these properties. They are taxed under the Church Hall and Miscellaneous tax category at a lower rate.
• In 2012 Council approved a five year abatement agreement for two properties owned by the Provincial Metis Housing Corporation at 155 and 159 Ontario Avenue. This is the last year of the exemption.
• In 2014 Council approved an application by PR Developments for a five year 100 per cent tax exemption under the Rental Housing Incentive Program for a new multi-family rental unit at 44 Allanbrooke Drive (29 units). The improvements were completed in 2014 and added to the assessment roll in 2015, therefore the exemption is in effect from 2015 to 2019.
• In 2016 Council approved a request by Yail Harbor Inc. for a five year 100 per cent tax exemption. The project was completed a few years ago and Council has agreed to have the 5 year exemption begin with 2014, therefore the exemption is in effect from 2014 to 2018.
• n 2016 Council approved an application by Greening Sources Holding Ltd. for a five year 100 per cent tax exemption under the Rental Housing Incentive Program for new housing at 115 Gladstone Ave. North. The improvements were completed in 2015 and added to the assessment roll in 2016, therefore the exemption is in effect from 2016 to 2020.
The City portion of the abatements was $14,455 or a total of $19,313.
