Incentives


Deer Lake Business Tax Incentive Program

To encourage the development of new business in the community the Town Council of Deer Lake has approved a Business Tax Incentive Program. The incentive exempts the new property from Business Tax for the first year and phases the tax in over five years as follows:

 

Year 1
 Business Tax exempt
Year 2 20% of the assessed Business Tax
Year 3  40% of the assessed Business Tax
Year 4 60% of the assessed Business Tax
Year 5 80% of the assessed Business Tax
Year 6 100% of the assessed Business Tax

The incentive is also available to existing businesses that expand their operation and increase the assessed value by $50,000 or more.

 

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