Click Here for the 2016 Merritt Travel Guide

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Notice of Revitalization Tax Exemption Bylaw

NOTICE OF REVITALIZATION TAX EXEMPTION BYLAW
Please take note that pursuant to Section 226(4) of the Community Charter, the City of Merritt Council intends to consider adopting City of Merritt Revitalization Tax Exemption Bylaw No. 2212 at its Regular Council Meeting on August 9, 2016.
 
The objective of proposed City of Merritt Revitalization Tax Exemption Bylaw No. 2212, 2016 is to use tax exemptions to encourage the following building expansion and enhancement to work:

a) construction, renovation and alteration of commercial, large industrial and higher density residential buildings within the City;
b) alteration and enhancement of building facades within the City Centre; and
c) construction of residential strata-developments within the City Centre;

in a manner consistent with the policies set out in the Official Community Plan for the purpose of attracting new businesses, residents and expanding existing businesses.
 
The purpose of proposed City of Merritt Revitalization Tax Exemption Bylaw No. 2212, 2016 is to consolidate into one bylaw, the General Revitalization Area Projects (the area within the boundaries of the City excluding the Specific Revitalization Area) and Specific Revitalization Area Projects (Development Permit Area No. 1 – City Centre).
 
The General Revitalization Area allows for a maximum of a four (4) year exemption period.  For projects within the General Revitalization Area, the amount of the Revitalization Tax Exemption will be calculated as follows:

(a) in year one, 100 percent of the increase in the Assessed Value of Improvements on the Parcel between the Base Amount Year and the year in which the occupancy permit for the Project is issued (the “Assessed Increase”);
(b) in year two, 75 per cent of the Assessed Increase;
(c) in year three, 50 per cent of Assessed Increase; and
(d) in year four, 25 per cent of the Assessed Increase.
 
The Specific Revitalization Area allows for a maximum of a five (5) year exemption period.  For projects within the Specific Revitalization Area the amount of Revitalization Tax Exemption will be calculated as follows:
 
a) for a Project consisting of the alteration of a façade, $20,000 or the increase in the Assessed Value of Improvements on the Parcel from the Base Amount Year to the year in which the Project is completed, whichever is greater; and
b) for a Project consisting of the construction of a strata-title residential development, the increase in the Assessed Value of land and Improvements on the Parcel containing the total Project in the Base Amount Year to the year in which the occupancy permit is issued for the Project as apportioned among each strata unit in accordance with each unit’s strata entitlement; and
c) for all other Projects, the increase in the Assessed Value of Improvements on the Parcel from the Base Amount Year to the year in which the occupancy permit is issued for the Project.
Any person wishing to express opposition to proposed City of Merritt Revitalization Tax Exemption Bylaw No. 2212, 2016 is requested to do so in writing to:
 
Attention:  Melisa Miles
Director of Corporate Services,
City of Merritt,
PO Box 189, Merritt, BC V1K 1B8; or
Email: mmiles@merritt.ca; or
Fax: (250) 378-2600; or
By delivering in person at City Hall at 2185 Voght Street; or
By addressing Council during the opportunity for public input respecting proposed City of Merritt Revitalization Tax Exemption Bylaw No. 2212, 2016 at the Council Meeting on August 9, 2016, at 7:00 p.m. in Council Chambers at 2185 Voght Street.