Town of Ponoka offering tax incentives for prospective new residents and business owners

“We’re a diverse, progressive community. And unlike many small towns, we have high-speed fibre optic Internet which makes it easy to work from home and telecommute to your job in the city,” adds Bonnett.

“We’re nestled in the beautiful Battle River Valley with 10 kilometres of paved trails that wind along the river and a historic downtown with a rich variety of specialty shops and services. We also have an indoor pool complex, an active arena complex and plenty of parks, playgrounds and other recreational facilities,” he remarks, noting, “Ponoka offers more than just a lifestyle; it’s real living.”

Town officials say new residents who buy and move into a newly built home in Ponoka in 2021 can save 75 per cent on the municipal portion of their property taxes in the first year; 50 per cent in the second year; and 25 per cent in the third year.

“That can add up to thousands of dollars in savings,” says Bonnett.

Meanwhile, new residents who buy and move into a resale home in Ponoka in 2021 can receive a $1000 one-time-per-property grant payment if they apply for the Town’s New Resident Grant.

The Town is also offering the same type of incentives to new businesses that set up shop in Ponoka this year. Ponoka’s New Business Grant offers up to a $1000 grant payment to businesses that move to town and have not previously operated in the community.

The Town’s Commercial New Build Incentive offers property tax breaks over three years to new or existing businesses in Ponoka that build a new property on commercially-zoned land in town. Those businesses can save 75 per cent on the municipal portion of their property taxes in the first year; 50 per cent in the second year; and 25 per cent in the third year.

“By attracting new residents and businesses to our community, we can continue to expand the quality of life advantages that we offer to our residents and help our community grow and thrive into the future,” exclaims Bonnett.

He notes that the COVID-19 pandemic has inspired a growing number of city dwellers to consider moving to a scenic rural community like Ponoka where the cost of living is much lower than the city and they can enjoy a laid back, rural-urban lifestyle with an abundance of outdoor recreational facilities.

“The Town created our New Resident and Business Attraction Incentive Program to give city dwellers that extra nudge as they look for the perfect rural community to call home,” says Bonnett.

To learn more about Ponoka and its tax and cash incentive programs for new residents, please visit www.ponoka.ca/real-living.

To learn more about the Town of Ponoka’s new business incentive programs, go to www.ponoka.ca/business.

by rdnewsNOW Staff

Town of Ponoka offering tax incentives for prospective new residents and business owners

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