Stettler town council passes initiatives that encourage municipal building

The bylaw gives a reduction in the municipal portion of property taxes on the increased assessment from new builds. This includes a 100 per cent reduction in the first year followed by a 75 per cent reduction in year two, 50 per cent in year three, and 25 per cent in year four.

This applies to all new residential units, from single-family dwellings to fourplexes and larger apartment buildings.

Town council expects the new residential tax incentive to produce similar positive results as the non-residential tax incentive, which was passed in 2023.

“The Town of Stettler is committed to creating opportunities for both residents and developers,” said Mayor of Stettler Gord Lawlor in a media release. “By providing tangible incentives, we are making Stettler an attractive place to invest, build, and call home. With a tight residential market and a low vacancy rate, council is eager to attract developers to meet the strong demand for new housing in Stettler.”

The Town says these initiatives position Stettler as a community focused on growth, innovation, and long-term economic prosperity.

by rdnewsNOW staff

Stettler town council passes initiatives that encourage municipal building

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