If you own a heritage home in Bradford West Gwillimbury, you could be eligible for a tax rebate under a new by-law approved by town council on Tuesday night.
The Heritage Property Tax Rebate Program is a by-law that aims to preserve the history of the town and encourage heritage home owners to invest in its proper conservation and restoration of heritage attributes.
The Municipal Act and the Ontario Heritage Act permit municipalities to offer incentives to owners of designated heritage properties to offset some of the costs associated with maintenance and upkeep.
The idea for the program was brought to council in a Committee of the Whole meeting in December 2019.
In order to be eligible for the 40 percent tax rebate, property owners will need to apply through the town and enter into a Heritage Easement Agreement to respect, preserve and maintain the heritage home. Applications must be submitted annually in order to be considered for the rebate.
For anyone applying for the first time, the application fee is $250, and annual renewal fees will be $50.
To qualify for the rebate, owners must obtain a certificate from an insurance company, proving they have a proper insurance policy for the home. The home also needs to be habitable and occupied.
When applying for a rebate, property owners must consent to the town conducting inspections as necessary to ensure the agreement is being adhered to.
Funding for the program is dependent on the annual budget review for the town, which takes place in November. The recommendation from town staff in 2019, was to allocate $15,000 per year to fund the program.
Council voted to enact the new by-law in Tuesday night's virtual meeting.
