What is the incentive?
Any increase in the municipal taxes associated with the eligible new construction covered for a period of two full calendar years (24 months) following the year the building is occupied.
What properties are eligible?
Multi-family residential buildings containing more than four dwelling units that are classified as Residential 2 as per the Manitoba Municipal Assessment Act, located in the Commercial Neighbourhood or Commercial Corridor Zones. Condominium buildings are not eligible.
Other Requirements:
- Property owner must obtain all necessary permits, agreements and approvals prior to construction
- Construction must be completed by December 31, 2024
- All outstanding amounts owing to the Town of Altona must be paid (e.g. property taxes, utility charges, other amounts owing)
How do I apply?
No applications required! The incentive will be calculated automatically once the building’s assessment is added to the municipal tax roll. This would occur following all necessary building inspections and upon occupying the building.
When does the incentive get paid out?
Tax incentives are paid out at the end of each fiscal year in December provided all accounts are in good standing.
Still not sure how it works?
Contact our office at 204-324-6468.