Stettler town council approves enhanced Tax Incentive Bylaw
Council for the Town of Stettler has unanimously approved a revised and enhanced Tax Incentive Bylaw.
The approval happened during their regular meeting on Dec. 19 2023.
“With high interest rates and growing costs, the enhanced Tax Incentive Bylaw is an ideal way to stimulate commercial growth in the Town of Stettler,” says Sean Nolls, Mayor, Town of Stettler. “It is our hope that this program will help existing businesses expand, attract new entrepreneurs to our community, and demonstrate to established franchises that Stettler is the perfect place to do business.”
Town officials say the bylaw can apply to any permanent, non-residential development including new construction, revitalization, redevelopment, or expansion to an existing business that will generate a minimum of $5,000 to increase the new construction assessment. The tax incentive applies solely to the increase in assessment amount, under the following formula: