File No: 0250-20/3900-2937
The City of Courtenay’s Downtown Courtenay Revitalization Tax Exemption Bylaw No. 2937, 2018 provides the opportunity to apply for a 5- to 8-year municipal tax exemption for new buildings in and around downtown Courtenay. This is intended to increase the population and create a vibrant downtown by incentivizing new development.
The City is proposing amendments to this existing bylaw, which will allow projects currently under construction to apply for a revitalization tax exemption.
Amount of tax exemption depends on the use and area: highest tax exemption for properties in the downtown (Area 1 - 100 per cent) and for residential dwellings around the downtown (Area 2 -100 per cent for residential dwellings, 50 per cent for commercial developments).
Council gave first reading to “Downtown Courtenay Revitalization Tax Exemption -Amendment Bylaw No. 3175, 2025” on April 2, 2025, and will consider second and third readings on April 23, 2025. The proposed amendments are summarized as follows:
• In Section 2 -Definitions, by: adding definition of “improvement” to have the same meaning as set out in the Assessment Act and amending the definition of “project” to remove the defining requirement that construction has begun after application for Revitalization Tax Exemption (RTE).
• In Section 4 - Eligibility Criteria, by: adding a notwithstanding clause to allow for RTE application to be submitted and approved after building permit issuance in the event of extenuating circumstances; adding a sub-section to clarify that an application is not eligible after occupancy permit; and adding an application requirement to include a quantity surveyor report assessing the value of construction at the time of application and assessing the total remaining improvements.
• In Section 7 -Application Process, by: amending sub-section 7. (a) by making clear that an RTE application is to be applied for prior to a building permit, and that the proposed notwithstanding clause within Section 4.1. (h) allows for consideration of an exemption to this application requirement; adding sub-section 7 (b) stipulating additional application submissions shall be included; and adding sub-section 7 (c) to permit more flexibility by allowing an RTE application to be applied for prior to even the issuance of a Development Permit by submitting the prescribed information.
Get more information
View a map of the eligible tax exemption areas (see Schedule A of Bylaw 2937 ): courtenay.ca/downtown-tax-exemption
This notice is pursuant to sections 94 and 227 of the Community Charter Adriana Proton - Corporate Officer
250-703-4839 | planning@courtenay.ca
