Trail City Council has established a Revitalization Tax Exemption Program for all Class 6 (Business) properties to encourage private sector investment in commercial building projects.
The tax exemption program promotes:
The program is intended to accomplish these objectives by providing tax exemptions to qualifying projects for 5 years.
Property owners undertaking new construction or major renovation projects in the years 2019 through 2022 are eligible for exemption from municipal taxes on the new assessment value attributable to the projects.
New commercial developments: 100% municipal property tax exemption on increases in assessment value* attributable to the construction project for 5 years. *applies to building improvements and land. Commercial development renovation and façade improvements: 100% municipal property tax exemption on increases in assessment value* attributable to the construction project for 3 years, followed by 60% property tax exemption in year 4 and 40% property tax exemption in year 5. *applies to building improvements only.
Who is eligible? |
Property owners of Class 6 (Business) properties undertaking new construction or renovations with a minimum construction value of $50,000 in the years 2019 through 2022 are eligible to apply. |
Is there a cost to apply? |
There is a $50 application fee. This fee can be submitted to City Hall along with the application. Applications are available for download here, or at City Hall at 1394 Pine Avenue in Trail. |
Can the Tax Exemption be transferred if I decide to sell my property? |
Yes, the tax exemption can be transferred. |
Download the Tax Exemption Program brochure for more information about Trail.
More information about Trail is also available in the City of Trail 2020 Annual report
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