Concrete pouring at the future home of Smithers Home Hardware, which will include an apartment on the second floor. (Grant Harris photo)

Smithers downtown residential tax break passed

Businesses that build apartments can earn up to 100% 5-year tax exemption.

A downtown revitalization bylaw (No. 1837) was passed with Councillor Frank Wray opposed at a town council meeting July 10.

Read more: Big tax breaks proposed

The bylaw allows tax exemptions to downtown buildings that construct residential dwelling units for a five-year period. The exemption would be 50 percent for one dwelling unit per parcel area greater than 290 metres squared, 75 percent for one dwelling unit per parcel area between 290 m2 and 135 m2, and 100 percent for one dwelling per parcel area less than 135 m2.

Some downtown buildings will already qualify for the new exemption, such as the new Home Hardware building at the corner of Third Avenue and King Street, which will have a one-bedroom apartment on its second storey.

The bylaw states that the objective of the council is, “to add efficient growth to the Smithers tax base, to diversify options for housing stock, to contribute to the success and vibrancy of the downtown core, and to reduce GHG [greenhouse gas] emissions by encouraging a more walkable community with a less energy-intensive lifestyle.”

“Thanks to [director of finance Leslie Ford] and all the staff who worked on this bylaw, I know it took a bunch of work … I think it’s something we haven’t done before,” said Mayor Taylor Bachrach.

“It’s creating some new ground, and it’s probably unique in the province in terms of trying to incentivize residential development.”

Read more: New 12,500 sq-ft Home Hardware starts construction

Get local stories you won't find anywhere else right to your inbox.
Sign up here


Concrete pouring at the future home of Smithers Home Hardware at Third Avenue and King Street. (Contributed photo)

Comments are closed

Just Posted

Overall house sales drop in the northwest

COVID-19 pandemic slowed market activity

B.C. orders Coastal GasLink to stop pipeline construction near protected wetlands

The 670-kilometre pipeline is planned to transport natural gas from northeast B.C. to Kitimat

Smithers Community Radio buys Lions railcar

The Lions are liquidating assets following dissolution announcement

Northwest Indigenous governments form new alliance

Alliance intended as way to share resources, maximize opportunities

The pandemic is widening Canada’s workplace gender gap

Gender pay gap is incentivizing fathers to work while mothers watch children, a new B.C. study has found

Ex-Okanagan Mountie forfeits 20 days’ pay after sexual misconduct review

A former Vernon RCMP constable made sexual comments, grabbed genitals of male officer in two incidents 10 years ago

Man found dead on Okanagan trail identified as Hollywood actor

GoFundMe campaign launched for man found dead at summit of Spion Kop

3 people dead in Prince George motel fire

Fire personnel believe the blaze was suspicious although investigation in early stages

B.C. sets terms to review police, mental health, race relations

MLAs to recommend Police Act changes by May 2021

Feds announce $8.3M to deal with ‘ghost’ fishing gear in B.C. waters

Ghost gear accounts for up to 70 per cent of all macro-plastics in the ocean by weight

Almost 99% less land in B.C. burned this year compared to 2018

2018 was the worst year on record for wildfires

B.C. tent camps persist as hotels, housing bought for homeless

Current estimate 40 camps, homeless counts stalled by COVID-19

Most Read