Revitalization Tax Exemption Program
The City of Merritt Official Community Plan outlines Council’s affirmation to remove impediments to private sector investment, revamping the City’s regime of taxes, fees, and charges to improve its competitiveness in attracting growth and encouraging development in the community. In addition, the City of Merritt is committed to increasing the density of residential development. We wish to encourage business in Merritt to expand over the next few years as economic opportunities present themselves. These expansions could result in new construction, increased employees, or simply added product lines. This new initiative will provide the City of Merritt a competitive advantage for our community in attracting development that will ensure growth that is balanced and progressive.?
In 2004, the Community Charter was introduced, offering a new revitalization tax exemption opportunity. As a result of this, the City of Merritt has established a revitalization tax exemption program. Council may enter into an agreement with property owners within the designated areas and upon issuance of an exemption certificate to the assessor; those improvements are exempt from municipal property value taxes for a period of time.
Click here to view our current tax exemption BYLAW 2212 to encourage development.?This bylaw provides a revitalization tax exemption program for business, industry, utilities, and high density residential development and redevelopment.
Please contact City Hall for more information.