The RTE program provides the opportunity for property owners, within a specified area who wish to either improve existing buildings or construct new buildings, to receive an exemption on their municipal property taxes. The maximum exemption permitted is 100% for a ten-year term.

New Development: taxes are assessed on the land’s value only.
Revitalization/Renovation: taxes are assessed on the property’s original value only.

Requirements


For completed projects, the project must be one of the following:

  1. For new improvements and multiple-family residential.
  2. A hotel/motel construction.
  3. An underground parking structure or an above ground multi-storey parking structure which includes a minimum of ten (10) parking stalls for use by the general public and only the area of the structure dedicated to public parking will be eligible for tax exemption, and a covenant for the public parking will be registered against the Parcel.

The use must comply with the current zoning by-law, KAMPLAN. Verification that all municipal taxes, utilities, rates, and charges are paid is mandatory.

For projects involving alteration of existing improvements , the project must:

  • Have a minimum construction value of $100,000 or 30% of the previous year’s assessed value
  • Add value to the public realm*

For projects involving brownfield site involving alterations/improvements, the project must:

  • Have a minimum construction value of $100,000 or 30% of the previous year’s assessed value

The use must comply with the current zoning by-law, KAMPLAN. Verification that all municipal taxes, utilities, rates, and charges are paid is mandatory.

*Adding value to the public realm means that the project must contribute aesthetically, at a minimum, to the streetscape. Work that would be assessed as contributing to the public realm includes, but is not limited to:

  • New building façade
  • Public art
  • Public open space (courtyards, plazas, gardens)
  • Public street furniture
  • Public recreational amenities
  • The addition of awnings or canopies above public pedestrian walkways

Application Requirements


  • A completed application form with the non-refundable application fee ($250)
  • A state of Title Certificate (available from the Land Title office, 455 Columbia Street)
  • A copy of the Notice of Assessment from the BC Assessment Authority for the year prior to the project
  • Verification that all municipal taxes, utilities, rates, and charges are paid in full provided from the Finance Department
  • The value of the construction confirmed through a copy of a building permit fee slip, or a letter from the owner’s design professional subject to approval from the Development and Engineering Services Director

Bylaw 22-4-5
Amendment Bylaw 22-4-8
Download Application Form
City Centre Revitaliztion Tax Exemption Map
View the City Centre Plan
View the Official Community Plan