The Village of Donalda has decided to put tax incentives in place for an indefinite period in order to induce growth in the community by attracting new residents.
A decision by the village council during their June 21 meeting has opened the way for those interested in purchasing property in the village to save substantially in their municipal taxes.
Village CAO Anna Volk says they believe the incentive should boost lot sales.
The tax incentive covers land lots in all types of zoning categories for all types of structures, new construction, mobile home, modular or RTM home.
The scheme will allow developers or new home owners to benefit from gradually shrinking tax concessions in tranches of 20 per cent in the first five years of ownership. A new property owner will pay only 20 per cent of the property tax due for the first year with payments increasing 40 per cent in the second year and 60 per cent in the third year. Full property taxes will be payable from the fifth year on.
The tax cocession will also be transferable if a new owner decides to sell property before the five-year incentive period expires.
More information can be obtained through Donalda Village Office (403)883-2345.