Revitalization Tax Exemption
Revitalization Tax Exemption
The City of Cranbrook has introduced new tax exemption programs for the Downtown and Victoria Avenue corridor. These programs are intended to reduce barriers to development and encourage investment in these key areas. They provide financial incentives for developers and property owners to build, renovate, or improve properties, supporting the ongoing growth and revitalization of Cranbrook’s core.
Downtown Cranbrook
In the downtown, the new bylaw supports a range of qualifying projects, including:
✔ New commercial or mixed-use buildings valued at $1 million or more
✔ Renovations to existing buildings worth at least $50,000
✔ Exterior façade improvements valued at $5,000 or more
Depending on the type of project, those who apply and qualify may receive between 80% and 100% exemption on the municipal portion of their property taxes for up to 5 years.
Victoria Corridor
For the Victoria Avenue corridor, the focus is on new medium and high-density residential or mixed-use residential/commercial buildings. To qualify, projects must:
- Include at least 5 living spaces
- Have a minimum construction value of $1 million
These developments will also be eligible for a 5-year tax exemption, starting at 100% in the first year and gradually decreasing to 20% by the 5th year.
Explore More Resources
To learn more about the revitalization efforts in Cranbrook,
explore the following resources:
See Detailed Maps
Downtown Revitalization Master Plan
Get all the details about Cranbrook’s downtown core, land use, vision, and future development strategies.
Choose Cranbrook
Discover why Cranbrook is an ideal place to invest, live, and grow on the official Economic Development website.
Data Portal
Access key statistics and community insights to support your planning or investment decisions.
GIS Portal
Explore interactive maps and spatial data to better understand the city’s infrastructure and development opportunities.
Newcomers Guide
Resources to help individuals and families make Cranbrook home.
Ktunaxa Homelands
Learn more about the cultural and historical significance of the lands we live and work on.
