2026 Taxation Revitalization Exemption Bylaw
This notice is the first of two notices to advise residents in the Village of Fraser Lake of the 2026 Taxation Revitalization Exemption Bylaw proposed for adoption.
Please be advised the Council of the Village of Fraser Lake will be considering Bylaw 871, Taxation Revitalization Exemption 2026 at the March 25, 2026, Regular Council Meeting taking place at 5:30PM in the Council Chambers at 210 Carrier Cres.
This bylaw is being proposed to incentivize new development, infill development, and redevelopment of older buildings in Fraser Lake. The bylaw would provide an exemption on certain taxes for a designated number of years to make development and early operations costs more feasible.
The exemptions apply exclusively to residential and commercial developments.
The properties subject to the bylaw are any properties zoned as Small-Scale Residential, Medium Residential, Highway Commercial, or Downtown Commercial in Bylaw 875, Zoning Bylaw 2025, with a unique exemption designation for the following properties on the Southside Lots (by PID):
- 028-159-926
- 028-159-918
- 028-159-934
- 028-159-942
- 028-159-951
- 028-159-969
- 028-159-977
- 032-698-747
There are four proposed types and classes of exemption.
Please note that in zones on which mixed-use developments (residential and commercial) are permitted, more than one type of exemption may apply.
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Small-Scale Residential
This exemption would apply to any residential development between 2 and 6 units.
The term of the exemption in years is the number of new units being built, minus one, up to a maximum of 5 years.
The value of the exemption is 100% of the municipal portion of property taxes on the cost of improvements (buildings). This does not apply to land or other buildings on the property.
The scale and value of the exemption, and thus the estimated tax reduction, will vary greatly with each proposed development.
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Medium Residential
This exemption would apply to any residential development greater than 6 units, where at least 50% of the units are Affordable Rental Housing.
The term of the exemption is three years.
The value of the exemption is 100% of the municipal portion of property taxes on the cost of improvements (buildings). This does not apply to land or other buildings on the property.
The scale and value of the exemption, and thus the estimated tax reduction, will vary greatly with each proposed development.
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Commercial
This exemption would apply to any commercial development greater than 4,000 sq. ft. (370 sq. m.).
The term of the exemption is three years.
The value of the exemption is 100% of the municipal portion of property taxes on the cost of improvements (buildings). This does not apply to land or other buildings on the property.
The scale and value of the exemption, and thus the estimated tax reduction, will vary greatly with each proposed development.
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Southside Lots
The exemption applies to the lots listed above, which are zoned for commercial development.
The term of the exemption is 5 years, renewable for an additional 5 years.
The value of the exemption is 100% of the municipal portion of property taxes on the cost of improvements (buildings) and land.
The estimated reduction in property taxes for 2027, 2028, and 2029 is $2,916.00 per year.
For more information please contact edo@fraserlake.ca or call the Municipal Office at 250-699-6257