Legislation introduced today, Nov. 1, will allow Halifax Regional Municipality to set different commercial property tax rates in designated zones.
“One way to support the provincial economy and strong, healthy communities is to give municipalities some flexibility in managing commercial property taxes,” said Municipal Affairs Minister Zach Churchill. “These changes will help council encourage commercial development where it’s best for the community.”
The bill will amend the Halifax Regional Municipality Charter Act, giving council the authority to designate zones in which different tax rates can be set and applied to assessed property value or street frontage of properties.
Within these zones, council will be able to apply different tax rates to different amounts of assessed value or lengths of street frontage. For example, the first $100,000 of assessed value may be taxed at one rate, the next $100,000 at a higher rate, and so on.
Council can choose to use any combination of these options.
Commercial tax rates set using these options will be reviewed within four years of coming into force.
Source: Release