Revitalization tax exemptions

The City has two revitalization tax exemption programs. Each one waives some or all of the municipal share of property tax for up to 5 years on eligible projects. School and other taxes still apply. Choose the program for the area your property is in.

Downtown Cranbrook

For commercial and mixed-use properties in the downtown area. Eligible projects can be exempt from 80% to 100% of municipal property tax for up to 5 years.

Project	Minimum investment
New commercial or mixed-use building	$1,000,000
Renovating an existing building	$50,000
Storefront (façade) improvements	$5,000

• Downtown Revitalization Tax Exemption Bylaw No. 4208-2025PDF
• Map of the downtown areaPDF

Victoria Avenue corridor

For new medium- and high-density housing, or mixed residential and commercial buildings, along Victoria Avenue.

• The building must have at least 5 homes.
• Construction must be worth at least $1,000,000.
• The exemption is 100% in the first year and steps down each year to 20% in year 5. The bylaw sets the exact rate for each year.

• Victoria Avenue Corridor Revitalization Tax Exemption Bylaw No. 4209-2025PDF
• Map of the Victoria Avenue corridorPDF

How to apply

1. Check that your property is in one of the two areas on the maps or the revitalization area tour.
2. Talk to the economic development office before you start, so your project is set up to qualify.
3. Apply for a revitalization tax exemption certificate.