CBRM Approves Phased-In Tax Incentive For New Construction

On September 18, 2018, the Council of the Cape Breton Regional Municipality approved amendments to the CBRM MUNICIPAL PLANNING STRATEGY AND LAND USE BYLAW AND THE NORTH END SYDNEY SECONDARY PLANNING STRATEGY AND LAND USE BYLAW TO IDENTIFY AREAS WHERE CBRM’S PROPOSED COMMERCIAL DISTRICT IMPROVEMENT BYLAW WILL BE IN EFFECT.  The Nova Scotia Department of Municipal Affairs has reviewed the amendments and has deemed that they do not require provincial approval.  The proposed Commercial District Improvement Bylaw will allow for the phasing in of increases in commercial property taxes resulting from new development in these areas for a period of up to ten years, subject to certain conditions. 

The areas proposed to be affected by the proposed bylaw are the historic downtown areas of:

  • Sydney 
  • Whitney Pier
  • Louisbourg 
  • New Waterford
  • Dominion
  • Glace Bay
  • North Sydney
  • Sydney Mines

and the following business parks:

  • Harbourside (a portion thereof)
  • Sydport
  • Northside

The purpose of the proposed amendments is to encourage new business development in downtown cores and business parks in the Cape Breton Regional Municipality.
THE AMENDMENTS ARE IN EFFECT AS OF THE DATE OF THIS NOTICE.
FOR MORE INFORMATION:

www.cbrm.ns.ca

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Joe Ward Follow Me
If we have the power to do this commercially, we should have the power to do this residentially. Zero tax, phased-in from zero over 10 years, on eligible (tbd) new home construction. This can combat outmigration, and increase the growth of our tax base (breaking the cap on homes being held now by prospective builders, increase in spin-off economic activity, phased-in tax base growth), the majority of which is residential and land. Example of eligibility criteria could be location on property that already has access to full infrastructure, and having an estimated value not less than other homes in the vicinity of the location.
James MacKinnon Follow Me
A helping hand with new builds are great, but it can be one side of the coin when it comes to putting down some roots... More pressure needs to be put on vacant property owners in the same areas. High rent in lucrative downtown locations (both commercial and residential) creates a barrier to development without incentive to the renters. Increase property tax on owners over time if their building remains vacant, forcing the reevaluation of rental prices to remain viable. I think this would go a long way in reaffirming CBRM's agency towards the economic health of the area as a whole. Giving both businesses and residents more infrastructure options means better opportunities to make living + working in Cape Breton viable and attractive.

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