Council receives new Permissive Tax Exemption policy update with no discussion

A review of how the City of Prince Rupert grants its Permissive Tax Exemptions has delivered an updated policy which was approved as part of Monday's City Council Session. 

The report from the City's Chief Financial Officer Corrine Bomben was received by the Council membership without any comment, or observations towards their priorities related to the document.

As is noted in the report, the document, which is included as part of the Agenda from Monday is an update to the existing policy that was reviewed rigorously in 2019, the revised notes include the opportunity for Seniors Housing that has already been approved through bylaw.

Some key elements to the policy are noted below:

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You can review the full document from the City CouncilAgenda from Monday evening, starting on page 58 of the Agenda.

The Permissive Tax Exemptions have in the past made for some extensive discussion for council, but through the years they have continued to find value in the program in place in Prince Rupert.  

So following the lead of Smithers and abolishing the Tax Exemption policy, as was done recently does not seem likely.

As we outlined at mid month, The Town of Smithers recently held their own discussions towards how they approach the Permissive Tax Exemption program in the Bulkley Valley. 

Smithers Council members recently voted to eliminate the program, noting of the lost revenues that were realized as a result of it over the years.  Smithers does have plans to introduce an expanded grant and financial aid program to those organizations that will be impacted by the end of the program.

Smithers organizations to lose Permissive tax exemptions 

That's an approach towards the Permissive Tax Exemption program, that the Council members in Prince Rupert haven't shared much enthusiasm towards over the years.

The current Permissive Tax Exemption application period for Prince Rupert ended in Mid July.

Prince Rupert Council will begin its process towards the upcoming round of Permissive Tax Exemptions in September, the list will be adopted by October 31st.

More notes related to Monday's Council Session can be reviewed here.

Further background on civic financial themes is available here.

Cross posted from the North Coast Review.