The City has developed a new industrial taxation incentive program
in response to a request from the Salmon Arm Economic Development Society
Board. The Industrial Revitalization Tax Exemption Program was given final reading at the June 23rd, 2014 Council meeting and will remain in effect for the next 5 years.
Until mid 2019, the City is offering this program to support and encourage industrial development in specified areas of the City, including the Salmon Arm Industrial Park. Eligible developments will receive a 5 year 100% exemption on the municipal portion of property taxes associated with new development. An additional 5 year sliding scale exemption is also available, returning the property to full taxation in year 10. Eligible projects include new industrial buildings or expansions of existing industrial buildings with a value over $300,000.