The Commercial New Build Incentive offers property tax breaks to new or existing commercial businesses in the Town of Ponoka that build a new property (or demolish and build a new property) on commercially-zoned land in the Town.
Eligible businesses will receive the following reductions in their municipal property taxes over a three-year period, beginning the first year after the occupancy permit is issued:
- A 75% reduction in the municipal portion of their property taxes in the first year;
- A 50% reduction in the second year; and
- A 25% reduction in the third year.
The application period for the one-time-per-business Commercial New Build Incentive began January 1, 2021, and will continue until December 31, 2022. If the owner sells the property during the three-year incentive program, the property tax credits will stay with the property and transfer to the new owner.
Once you fill out an application form, please email a copy of the completed form to RealLiving@ponoka.ca or print a copy of the completed form and mail it to:
Town of Ponoka
200, 5604 50 St
Ponoka, AB. T4J 1G5
For information about Retail Investment Opportunities in Ponoka including community characteristics and information about Ponoka's retail sector, please view the Town of Ponoka's Retail Pitch Deck