CBRM Tax Incentives for Downtowns & Business Parks
The Cape Breton Regional Municipality’s Commercial Development District Improvement By-Law allows property owners undertaking new commercial developments in certain areas of the Municipality to apply to have the increase in property taxes, resulting from these new developments, to be phased in over a period of five or ten years, depending the scale of the development.
The following development or renovations to commercial property are available under the Development Support Program:
- Tax assessment increases of $100,000 or more are eligible for up to ten years of tax reductions
- Tax assessment increases of less than $100,000 are eligible for up to five years of tax reductions
- Total tax reduction of up to 50% over the phase-in period are possible
WHERE DOES THE INCENTIVE APPLY?
CBRM’s core downtown areas in multiple communities:
- Glace Bay
- North Sydney
- New Waterford
- Sydney Mines
- Whitney Pier
It also applies to the municipality’s three business parks:
Click the map below to see eligible downtowns and business parks.
Tax Incentives Information Package
Click here to review the information package with info on why the incentives are important, the focus on downtown areas, and how the incentives are designed to work.
DEVELOPMENT OPPORTUNITIES IN THE CBRM
Contact the Cape Breton Partnership for site selection assistance, connection to local programs and supports, and access to the tools and resources to make your business and investment succeed.
Cape Breton Partnership
HOW TO APPLY
Any property owner wishing to be considered for this Development Support Program must first complete the application available on the CBRM Website. You must have a building permit prior to submitting your application.
Need more information, assistance, or support? The Cape Breton Partnership works on behalf of all Municipalities and First Nations in Cape Breton – Unama’ki and can connect you to the tools or information you need. Contact us today or explore our database of business supports at www.EntrepreneurCB.com.Click here to submit an addition/edit to this page
Last Modified: September 6, 2023