Taxation Revitalization Exemptions

Bylaw 871, Taxation Revitalization Exemptions provides exemptions on the municipal portion of property taxes for new builds in Fraser Lake.

Mixed-use buildings may qualify for multiple exemptions.

For more information or to see if your build qualifies, contact edo@fraserlake.ca or call 250-699-6257.

This exemption applies to new residential housing developments between two and six units.

The exemption is 100% of the municipal portion of property taxes on the assessed value of the improvements (buildings). The exemption does not apply to existing buildings, land, or non-residential uses. The term of the exemption is the number of new units, minus one. Eg. a new fourplex will have a three-year exemption.

This exemption applies to new residential builds of greater than 6 units, where 50% or more of the units are considered affordable rental housing.

The exemption is 100% of the municipal portion of property taxes on the assessed value of the improvements (buildings). The exemption does not apply to existing buildings, land, or non-residential uses. The term of the exemption is three years.

This exemption applies to new commercial buildings with an indoor area greater than 370 sq. m. (4,000 sq. ft.)

The exemption is 100% of the municipal portion of property taxes on the assessed value of the improvements (buildings). The exemption does not apply to existing buildings, land, or non-commercial uses. The term of the exemption is three years.

This exemption applies to new commercial buildings on specified lots south of Highway 16.

The exemption is 100% of the municipal portion of property taxes on the assessed value of the improvements (buildings) and lands. The term of the exemption is 5 years.