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1.0 Purpose
The Council of the Town of Mahone Bay is authorized to adopt a policy
providing tax exemption to residents of the Town of Mahone Bay in
accordance with Section 69 of the Municipal Government Act. This policy is
designed to document the processes followed by the Town residents to
make application to receive the low-income property tax exemption if they
meet the required qualifications.
This policy is designed to clearly outline the process and requirements to
be followed to ensure provision of the low-income tax exemption to
qualified residents of the Town of Mahone Bay.
2.0 Definitions
a) Applicant Ratepayer means the person(s) to whom the property taxes
are assessed.
b) Income means the net income as indicated on the previous year's
Income Tax Notice of Assessment.
c) Low-Income Property Tax Exemption means the reduction of the
property taxes up to an amount that is the lesser of the current
year's taxes or the qualifying exemption.
d) Low-Income Property Tax Exemption means the reduction of the
property taxes up to an amount that is the lesser of the current
year's taxes or the qualifying exemption.
e) Qualified Property Owner means:
- Owner of property in their name located within the Town
boundaries; and
- The property is occupied by the ratepayer as their principal
residence; and
- Whose total household income (including the income of all
other members of the same family residing in the same
household) is at or below the level established in this policy.
f) Resident means a person residing at an address within the
boundaries of the Town of Mahone Bay.
g) Town Council means the Council of the Town of Mahone Bay.
h) Town means the Municipality of the Town of Mahone Bay.
Low-Income Property Tax Rebate Policy
3.0 Low-Income Property Tax Exemption
The Town determines its tax rates each year following confirmation of the
budget for the period. These tax rates are used in conjunction with the
property assessment values provided by Property Valuation Services
Corporation (PVSC) to determine the property taxes that are applicable to
each property within the boundaries of the Town of Mahone Bay.
In an effort to offer some relief to residents of the Town that may be
experiencing difficulty paying their property taxes, the low-income property tax
exemption has been implemented.
The program will be advertised annually providing details of qualifications and
the policy and application will be available on the website.
The low-income property tax exemption will provide qualified applicants with a
reduction in the total property tax amount of up to the lesser of total property taxes
or the qualifying property tax exemptions.
4.0
Qualifications
4.1
In order to qualify for the graduated tax exemption, the total income (as
confirmed by the previous year's Income Tax Notice of Assessment) of all persons
residing in the household of the applicant ratepayer, must be $40,000 or less;
4.2
The applicant ratepayer must occupy the residential property as their
principal residence (nine months or more per year).
4.3
The applicant ratepayer completes the application attached as Appendix "A"
to this policy completely and provides the required previous year's Income Tax
Notice of Assessment.
4.4
Only one tax exemption will be applicable per property regardless of
ownership.
5.0 Process
5.1
When the ratepayer receives their final tax billing (2nd one in the year), they
should complete the application, sign the application, attach the required previous
year's Income Tax Notice(s) of Assessment, and deliver it to the Town office prior to
September 30th.
5.2
The Finance Department will review the application for completeness,
accuracy and eligibility and advise the applicant ratepayer of the decision;
5.3
The Finance Department will apply the Low-Income Tax Exemption as
follows:
5.3.1
Total household income of less than $30,000 will qualify for a rebate of up to
$1000
5.3.2
Total household income of $30,001 to $35,000 will qualify for a rebate of up to
$500
5.3.3
Total household income of $35,001 to $40,000 will qualify for a rebate of up to
$250
5.4
The Finance Department will allocate the total amount of the annual
budget for Low- Income Tax Assessments on a first-come first-serve basis to all
qualified applicants;
5.5
If the property tax account is then in a credit position, the applicant
ratepayer can request a refund or allow the credit to remain and be applied to
the subsequent year to further reduce property tax
6.0 Review and Update
This policy and the associated budget allocation will be reviewed annually in the
budget process to determine if the Town was able to meet the need of the qualified
applicants, and if in the future the Town will offer a larger exemption, a higher
income level or another modification to the policy.
Clerk's Annotation for Official Policy Book
Date of notice to Council Members of Intent to Consider
[minimum 7 days notice]
____July 14, 2022_________
Date of Passage of Policy
____ July 28, 2022_________
______________________________
_____________________
Town Clerk
Date