Did you know you can buy or build your dream home in Ponoka for much less than it costs in the city?
We are a scenic rural community where the cost of housing is much lower than the city and you can enjoy all the advantages of our relaxed, small-town lifestyle without the crowds.
We also have high-speed, fibre optic Internet, making it easy to work from home and telecommute anywhere!
The Town of Ponoka created our Residential Incentive Programs to give you that extra nudge as you look for the perfect rural community to call home.
The Residential Incentives offer the following tax breaks and incentives to new and existing residents in Ponoka:
Residential New Build Incentive
Renewed until December 31, 2025
New and existing residents who build or buy a newly-built home not previously occupied in the Town of Ponoka can qualify for this program.
This incentive allows citizens to enjoy the following tax savings over three years:
- 75 per cent reduction on the municipal portion of your property taxes in the first year following the construction of a new home;
- 50 per cent reduction in Year 2; and
- 25 per cent reduction in Year 3.
That would add up to a total tax savings of more than $4,500 on a house with an assessed value of $380,000! (This example is based on 2022 property tax rates).
To qualify, applications must be received in the same year in which the development permit is issued.
Please note that applicants who build or buy a newly-built home in the Town of Ponoka and are moving to Ponoka from another community can also access the New Resident Incentive (please see below).
New Resident Incentive
Renewed until December 31, 2025
New residents who buy and move into a resale or previously lived in home in the Town of Ponoka can receive a free one-year family recreation pass to the Ponoka Aquaplex and Ponoka Arena Complex.
The Ponoka Aquaplex features a 25-metre indoor swimming pool, wading pool, deep tank with a 10-foot corkscrew slide, hot tub and sauna.
The pass also includes free access to:
- Racquetball/squash courts;
- Public swimming and water fitness at the Ponoka Aquaplex;
- Drop-in programming (basketball, badminton, volleyball, etc); and
- Public skating/shinny hockey at the Ponoka Arena Complex.
To qualify, you must have moved to the Town of Ponoka from a different municipality. Applications must be submitted in the same year as the applicant’s possession date of their new property.
Major Home Renovation Incentive Program
Ponoka residents who complete major renovations on their home, which increase their property’s assessment value by at least 20 per cent (excluding land assessment value), can qualify for the following property tax breaks:
- 75 per cent reduction on the assessment increase in the municipal portion of their property taxes in Year 1;
- 50 per cent reduction on the increase in Year 2; and
- 25 per cent reduction on the increase in Year 3.
Examples of major renovations that may qualify for the program include:
- Finishing a basement;
- Building an attached or detached garage;
- Building an addition to increase square footage of a home;
- Major kitchen renovations or complete renovation of a main living area.
Applications must be received by December 31 of the same year in which the major home renovation work begins.
New residents who buy a ‘fixer-upper’ can also qualify for this incentive program. Realtors could use this program to promote the sale of ‘fixer-uppers.’
To learn more about our Business Incentive Programs, please click here.