Affordable Housing Property Tax Adjustment
No fixed amount
Grant
Description:
The Cape Breton Regional Municipality’s Affordable Housing Property Tax Adjustment Policy aims to incentivise developers, who create four or more new affordable housing dwelling units and agree to maintain affordability for at least 10 years, by reducing municipal property taxes over a 10-year period.
Comments on Funding:
The Affordable Housing Property Tax Adjustment will be a:
90 per cent reduction of municipal property tax in years one and two
75 per cent reduction of municipal property tax in years three and four
60 per cent reduction of municipal property tax in years five and six
45 per cent reduction of municipal property tax in years seven and eight
30 per cent reduction of municipal property tax in years nine and 10.
Continuous Intake
Eligibility:
Applicants must be developers, who create four or more new affordable housing dwelling units and agree to maintain affordability for at least 10 years, by reducing municipal property taxes over a 10-year period.
Application Steps:
Applicants must submit applicaion form to the CBRM Planning and Development
+902-563-5070 housing@cbrm.ns.ca
Documentation Needed:
Applicants must submit:
1. Copy of Approved Building/Development Permit
2. Property Tax Assessment Increase Documentation
3. Proof of Occupancy Permit Issuance
4. Additional Funding Source Documentation
5. Summary of Project (Including total number of affordable units and number and size of bedrooms)
Other Things to Note:
About the author
Maurice
