Woodlands County is continuing its popular tax incentive program for another year.
At Woodlands County council’s May 11, 2022 meeting, council passed bylaw 587/22, which extends the program into 2022.
If a County resident pays their residential and farmland property taxes by June 30, they will receive a three per cent reduction in their tax bill. If a County resident pays their non-residential property taxes by June 30, they will receive a one per cent reduction on the municipal levy portion of their bill. Payments made after June 30 will be subject to penalties.
Woodlands County first brought in the tax incentives in 2020, partially to assist County residents during the COVID-19 pandemic, and partially to assist the County with their cash flow.
In 2020, the County paid out $142,000 in tax rebates, which they were able to recoup through a provincial grant. In 2021, the tax incentives cost the county $171,000. While there were no grants available that year to offset the costs, the increased cash flow did reduce the County’s dependence on its line of credit.
In October 2021, Woodlands County conducted an online survey to get the County residents’ opinion on the program. 90 per cent of respondents were in favour of the County continuing the program.
The County has budgeted $151,000 for the program in 2022.
