The Quinte West Hertiage Advisory Committee has approved a recommendation to ask council to approve a Heritage Tax Rebate Program that would include 40 per cent rebate on property taxes.
The Ontario Heritage Act allows municipalities to offer property tax relief to owners of designated heritage properties to assist with the costs of conservation.
It’s hoped the program would encourage private property owners to maintain and preserve historically significant buildings.
Many Ontario municipalities including Kingston and Peterborough, have implemented similar programs.
Others like Belleville, Prince Edward County and Cobourg do not, but have other programs to accomplish similar objectives
To qualify, a property must:
– Be designated under the Ontario Heritage Act (Part IV – individual
properties, or Part V – properties within a designated heritage
conservation district).
– Be subject to a Heritage Conservation Agreement between the property
owner and the City, ensuring ongoing preservation.
– Be in compliance with municipal by-laws, property standards, and
maintenance requirements.
A property owner would have to apply annually and provide evidence of compliance with heritage conservation requirements.
If a property loses its heritage designation or falls into disrepair, it will no
longer be eligible for the program.
Currently there are approximately eight properties in Quinte West that could qualify for the program but staff suggest there could be dozens more in the future.
Council will be asked at a future meeting to pass a motion that would see staff will prepare the required by-laws for the rebate.
