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) starting when the building is occupied.
What properties are eligible?
Multi-unit residential buildings that:
- contain more than eight dwelling units;
- are classified as Residential 2 as per the Manitoba Municipal Assessment Act;
- are rental properties;
- are not condominium buildings;
- are located on a street established prior to the year 2000; and
- are within the Commercial Corridor Zone, Commercial Neighborhood Zone, Residential Low Density Zone or Residential Medium Density Zone as identified in the Town of Altona’s Zoning By-Law No. 1792/2021
Are there any other requirements?
- Property owners must obtain all necessary permits, agreements and approvals prior to construction.
- Construction must be substantially completed by December 31, 2027
- 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.