The Kamloops Community Child Care Planning Program report released in May of 2020 indicated a lack of daycare spaces for children throughout the city. The report concluded that there is a serious need for more registered daycare spaces throughout the community in order to meet the increasing demand.
In order for a Project to be considered for a Tax Exemption, the following requirements must be met:
The project must:
a) be a commercial daycare facility
b) maintain a valid business license as a registered commercial daycare facility for the length of the exemption
- Any construction commenced prior to an approved application for a Tax Exemption will not be eligible for consideration.
- The Revitalization Tax Exemption Bylaw in effect at the time of Building Permit application will be the current bylaw.
Calculation of Revitalization Tax Exemption
The term of each Tax Exemption shall be ten (10) years. The tax exemption will be 100% of the amount of any increase in the assessed value of improvements in and on the Parcel between the year before the construction or alteration began and the year after which the Tax Exemption Certificate is issued (the “Increased Assessed Value”).