This week, Merritt City Council approved a long list of permissive tax exemptions.
“The permissive tax exemption is a means for Council to support organizations within the community which further Council's objectives of enhancing the quality of life (environmental, economic, social, cultural) and delivering community services economically,” wrote Sean Strang, Deputy Director of Finance and IT.
To limit administrative and council time, exemptions are considered on a four-year term.
(List of approved exemptions)
Along with approving the list through third reading, Council was also briefed on how other municipalities cap their exemptions.
“The proposed exemptions attached are 1.03% of taxation revenue, which is well below the cap found in any other city where a cap is established. If the council wishes to amend the current City of Merritt policy, they may direct administration to draft a new policy with a cap or other changes,” added Stang.
No cap was moved by the council on Tuesday. The exemptions will still need to receive final adoption and approval at the next council meeting.
On Twitter: @Q101Merritt