Notice of Revitalization Tax Exemption Bylaws - 2026

Notice of Revitalization Tax Exemption Bylaws

Mayor Pranger and Council propose to adopt the District of Kent Revitalization Tax Exemption Bylaws 1766 and 1767 during the Regular Meeting of Council at 6:00 pm on August 17, 2026.

The objectives of the Revitalization Tax Exemption Programs are:

• to create an economic stimulus to encourage industrial and commercial capital investment within the District of Kent,
• to create additional permanent employment opportunities within the community that will reduce the need for residents to commute to work outside the community, and
• to expand the industrial and commercial tax base.

Objectives will be achieved by encouraging industrial and commercial development with temporary relief from general municipal property taxes.

Industrial Revitalization: a tax exemption will be granted on assessment increases resulting from qualifying development, with an estimated construction cost of at least$100,000.

Commercial Revitalization: a tax exemption will be granted on assessment increases resulting from qualifying development, with an estimated construction expansion cost of at least $100,000; or an alteration, with an estimated construction cost of at least $50,000.

The term of the tax exemptions will be up to 5 years, with the value starting at 100% of the Increased Assessed Value resulting from the development and reducing to 20% of the Increased Assessed Value over the 5-year period.

The proposed bylaws are available for inspection at Municipal Hall, 7170 Cheam Ave. Agassiz, BC, between 8:30 am – 4:30 pm Monday to Friday, excluding statutory holidays.

Enquiries may be directed to Mike Veenbaas, Director of Financial Services or Sean Yilmaz, Manager of Planning at 604-796-2235.