TOWN OF CUPAR
Bylaw 4 -2010
A BYLAW TO
ESTABLISH PROPERTY TAX INCENTIVES AND PENALTIES
The Council of the Town of Cupar in the Province of Saskatchewan enacts as follows:
1. Due
Date
Property
and other taxes imposed by the Town of Cupar are deemed to be
imposed
on the first day of January in each year and shall be due on
December
31st.
2. Residential
Tax Incentive Program-Based On Municipal Tax Only
a) That the residential dwelling owner have a written request to
the
Town of Cupar for all tax incentive programs.
b) That an agreement between the residential dwelling owner and
the Town of Cupar, stated as Exhibit A , attached and
forming
part of this bylaw, be signed by both parties in duplicate.
c) That these incentives shall cease immediately upon
ownership change of the residential building and property
without written permission from the Town of Cupar to transfer
to
new ownership.
d) Further, that each current and future incentive provided shall
be limited and subject to any future legislative enactments
which may restrict the Town's ability to provide them to the
extent
set out in this bylaw.
e) That
residential building and development permits issued on
or
after July 1, 2010 be provided the following economic
development
tax incentives on the residential property so
affected:
(i) Approved new dwelling constructed or dwelling moved in to the Town of Cupar will be
exempted from
property taxes from date of occupancy to the original land purchaser for:
(a)
the first year will be 100% tax exemption
(b)
second year will be a 50% tax exemption.
3. Commercial Tax
Incentive Program-Based on Municipal Tax Only
a) That the commercial property owner have a written request to
the
Town of Cupar for all tax incentive programs.
b) That an agreement between the commercial property owner
and the Town of Cupar, stated as Exhibit B , attached and
forming
part of this bylaw, be signed by both parties in duplicate.
c) That these incentives shall cease immediately upon
closure of the commercial building or in the case of new
ownership change without written permission of the Town of
Cupar
to transfer the incentives to new ownership.
d) Further, that each current and future incentive provided shall
be limited and subject to any future legislative enactments
which may restrict the Town's ability to provide them to the
extent
set out in this resolution.
e) That
commercial building and development permits issued on
economic
(i) Construction of a new building: 100% tax exemption in each year of a two year consecutive period
to the original benefiting persons or business.
(ii)
Extension to existing
commercial building:
(a) 100% tax exemption for the first year on the new construction or extension to the original
benefiting persons business.
(b) 50% tax exemption for the second year on the new construction or extension to the original
benefiting persons
or business.
(iii) Purchase of an existing business:
(a) 100% tax exemption for the first year
(b) 50% for the second year
(iv) Lease to purchase of an existing building to start a new business where taxes are transferred to the
lessee through
lease agreement:
(a)100%
tax exemption for the first year
(b)
50% tax exemption for the second year.
4. Incentive
Program-Prepayments
a) The treasurer may accept payments to be applied on current taxes in advance of the
time of completion of the tax roll for the current year.
b) Payments
under Section 1 may be accepted in any amount not exceeding
the levy in the preceding year.
c) Between the months of January and July, discounts shall be allowed with respect to prepayments of the
current year's taxes on property.
d) The
rate of discount relative to prepayment of taxes shall be a constant
5%.
5. Incentive
Program – Prompt Payment
a) Discounts shall be allowed from August 1, the time the levy notice is sent on current taxes, other than
local improvement taxes
or special taxes to encourage prompt payment.
b) Payment
of current taxes received:
(i) from
the time the levy is sent until
August 31 shall be eligible
for a discount of 5%
(ii) during
the month of September shall be eligible for a discount
of 4.5% of the amount paid;
(iii) during the month of
October shall be eligible for a discount of 4% of the amount paid;
(iv) during the month of
November shall be eligible for a discount of 3% of the amount paid;
6. Incentive
Program – Arrears of Taxes
a) A rebate passed by resolution for each parcel assessment, shall be allowed with respect to the
payment of tax arrears and penalties.
b) Where
a person pays less than the total amount of arrears and penalties,
the rebate shall be apportioned.
7. Penalty
on Arrears of Taxes
a) Taxes which remain unpaid after the 31st day of December of the year in which they are levied shall be
subject to a penalty.
b) The method of calculating the penalty shall be a compound rate of 1% per month, added on the first day of each
month applied to the total taxes and penalties that remain unpaid at the end of the month preceding the month
in which the penalty is being applied.
c) The
penalty charges are to be added to and shall form part of the tax
roll.
8. New
Assessments
New
assessments of any construction shall be added to the tax
roll the
year of the assessment.
9. Repeal
Previous Incentive and Penalty Programs
Bylaw
No. Date
Adopted Subject
Matter
Bylaw
5-2008 June
9, 2008 Establish
Property Tax
Incentives
and Penalties
Bylaw
5-2008 is hereby repealed.
10.
Coming Into Force
This
bylaw shall come into force on July 1, 2010.
EXHIBIT A OF BYLAW 4-2010
AGREEMENT BETWEEN
RESIDENTIAL OWNER AND TOWN OF CUPAR
This Agreement made in duplicate this _____ day of ______________, ________
BETWEEN:
The Town of Cupar, in the Province of Saskatchewan, hereinafter called the "Town"
OF
THE FIRST PARTY
-and-
__________________________owners of _________________________
in the Town of Cupar civically located at __________________________
OF THE SECOND PARTY,
WHEREAS, The Town of Cupar is empowered to exempt or partially exempt any land or improvement from taxation through the Municipalities Act,
Sections 295(1) and 298(5).
AND WHEREAS, the New Residential construction on this property encourages and promotes further economic activities and development within
the Town of Cupar.
NOW THEREFORE, the parties agree that the said property shall be wholly exempted from property taxes in each year of three consecutive years
upon habitation commencing ____________and expiring _______________, subject to the following:
a) All or any portion of taxes payable are to be deemed current as at January 01 of
each year. It is understood and agreed that where any taxes, levies, charges or fees are imposed on this said property are not deemed
current at January 01 in any year of this agreement, the tax exemption shall not apply in subsequent years and this agreement shall
therefore no longer have any binding effect upon the Town of Cupar.
b) That this Agreement is not transferable nor assignable to any other party without
express written permission of the Town of Cupar.
THE
TOWN OF CUPAR
____________________________________
MAYOR
SEAL
____________________________________
ADMINISTRATOR
OWNER(S)
NAME(S)
____________________________________
____________________________________
EXHIBIT B OF BYLAW 4-2010
AGREEMENT
BETWEEN BUSINESS OWNER AND TOWN OF CUPAR
This Agreement made in duplicate this _____ day of _____, ______
BETWEEN:
The TOWN OF CUPAR, in the Province of Saskatchewan, hereinafter called the "Town"
OF THE FIRST PARTY
-and-
___________________________owners of _______________________civically known as ______________________ in the Town of Cupar known as
_____________________ OF THE SECOND PARTY,
WHEREAS, The Town of Cupar is empowered to exempt or partially exempt any land or improvement from taxation through the Municipalities Act,
Sections 295(1) and 298(5).
AND WHEREAS, The business established on this property encourages and promotes further economic activities within the Town of Cupar.
NOW THEREFORE, the parties agree that the said property shall be partially exempted from taxes by way of a 25% reduction of said property taxes in
each year of a consecutive four year period commencing ___________and set to expire __________ under the following terms and conditions:
a) Provided taxes payable are deemed current as at January 01 of each year. It is
understood and agreed that where taxes, levies, charges or fees are not deemed current at January 01 in any year of this agreement,
said exemption shall not apply in subsequent years and this agreement shall then have no further binding effect upon the Town of Cupar.
b) That business activity continues during the life of this agreement. Where current
business activity ceases at any time during this period – this agreement shall
immediately cease to have any further force or effect between the parties.
THE
TOWN OF CUPAR
______________________________________
MAYOR
______________________________________
ADMINISTRATOR
SEAL
BUSINESS
NAME:
_______________________________________
_______________________________________
Signing Officer
_______________________________________
Signing Officer