Revitalization Tax Exemption Programs

A Revitalization Tax Exemption (RTE) program allows the District to exempt a property from all, or a portion of, municipal property taxes. The intent of the program is to encourage development or re-development within a given area by providing a tax incentive for property owners who qualify. Revitalization tax exemptions are limited to municipal property value taxes and do not extend to school, hospital or other property taxes, such as parcel taxes.

Council previously identified four (4) key commercial/industrial development areas. They are the Town Center (Central Coldstream) area, Trintec Properties, Ricardo Road Industrial area and the Lavington Industrial Park. These four identified areas are supported in the Official Community Plan (OCP) as they are designated as commercial or industrial development areas.

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