According to officials with Woodlands County, the deadline for Small Business Property Tax Refund applications has been extended to Sunday, June 30.
The Town says the Small Business Property sub-class is intended to provide an opportunity for property owners who paid a non-residential property tax levy in the previous year (2023) to pay a reduced property tax in the current year (2024).
The Small Business Property Tax refund rate for 2024 is 1.4426 per cent for every $100.00 of assessment, which the Town says works out to an 11.3 per cent reduction from the non-residential tax rate.
Property owners who are operating their own business or leasing parts of their property to businesses that employ fewer than 50 people within Canada are eligible to apply for a reduced tax rate. Each application is reviewed before approval, and officials say refund cheques will be mailed to the businesses that qualify for the reduced rate.
Officials also note that in the coming years, the Mill Rate Reduction will be applied to the annual tax notice for businesses that qualify.
Download the 2024 Small Business Property Tax Application form here.
