Income Targeted Tax Exemption Policy (No. I-683-25) — full text

This is the exact embedded text of the captured official document. Snapshot c1e21f05ff7e · verified 2026-06-05 · original document · archived snapshot · unofficial consolidation, the official version is held by the municipal clerk.

MUNICIPALITY OF THE DISTRICT OF YARMOUTH Income Targeted Tax Exemption Policy I-683-25 Effective Date: December 11, 2025 Income Targeted Tax Exemption Policy I-683-25 Page 1 Part 1 Purpose The purpose of this Policy is to provide partial tax relief of current taxes on primary residences for property owners in targeted income brackets as permitted under Section 69 of the Municipal Government Act. Part 2 Application Process 2.1 It is the intention of the Municipality to provide a partial tax exemption for property tax payers in certain income brackets. 2.2 The exemption shall apply only to persons who are year-round residents of the Municipality for their primary residence which is occupied by them. 2.3 Only one application per household may be submitted. 2.4 In order to be eligible for this tax exemption, total household income from the previous taxation year must not exceed the amounts in the table below (for the base year 2024): 0 - 29,999 $300 30,000 - 44,999 $200 45,000 - 60,000 $100 These income amounts will be adjusted annually and increased by the annual increase in the CPI for Nova Scotia at December 31 annually to a maximum of 3.5%. In the event that C.P.I. reflects a negative percentage, the C.P.I. rate shall be determined to be 0%. Income of all income earners residing in the same household for the reporting year shall be included in calculating total income. Falsifying an application is grounds for permanent disqualification in the program. 2.5 Any individual receiving Social Assistance which includes a property tax component as part of their budget will not be eligible for this exemption. 2.6 The amount of the exemption will be calculated per section 2.4 and shall not exceed 50% of the primary residence's current year's tax bill. 2.7 The applicant shall be required to complete a statutory declaration, and provide a copy of the Notice of Assessment prepared by Revenue Canada MUNICIPALITY OF THE DISTRICT OF YARMOUTH Income Targeted Tax Exemption Policy I-683-25 Effective Date: December 11, 2025 Income Targeted Tax Exemption Policy I-683-25 Page 2 from the preceding year (for example, for the 2026 application, applicants would provide the Notice of Assessment for the 2024 tax year). Notices of Assessment are required from all income earners residing in the household. 2.8 Application period for a tax exemption will be January 1 to March 15 annually. No late applications will be accepted. Supporting documentation (i.e., Notice of Assessment from Revenue Canada) verifying income from all income earners residing in the household must be received with the application. Part 3 Policy Review The income threshold and maximum exemption amount contained in this policy will be reviewed prior to the approval of the operating budget immediately following the general municipal election every four years. Chief Administrative Officer's Annotation for Official Policy Book Date of Notice to Council members of Intent to Consider (7 days Min) December 2, 2025 Date of Passage of current Policy December 11, 2025 I certify that this Income Targeted Tax Exemption Policy I-683-25 was adopted by Council as indicated above. ___________________________________ December 11, 2025 Chief Administrative Officer Date Date last reviewed: December 11, 2025 Date last amended: December 11, 2025 MUNICIPALITY OF THE DISTRICT OF YARMOUTH Income Targeted Tax Exemption Policy I-683-25 Effective Date: December 11, 2025 Income Targeted Tax Exemption Policy I-683-25 Page 3 Amendment Log Date Amendment Description January 18, 2023 - Replaced throughout, the word wage with income. - Section 2.3 - added language that only one application per household may be submitted. - Section 2.6 - removed from the last sentence, less any Federal or Provincial property tax rebates received. - Examples of Yearly Income form - removed Federal and/or Provincial Property Tax Rebate. - Schedule A - added 2022 Base Year amount February 28, 2024 - Section 2.3 - removed "Where a property is assessed to more than one person, any of them who are entitled to an exemption may receive only the portion of the exemption equal to that person's share of the total assessment for the property, but where the different interests are not separate, then to that portion determined by the Treasurer, whose determination is final." - Schedule A - added 2023 Base Year amount - Replaced Statutory Declaration with new application form. April 23, 2025 - Schedule A - added 2024 Base Year amount - Schedule A - increased 2024 Base Year amount from $30,564.50 to $50,000 December 11, 2025 - Changed Policy name from Low Income Exemption Policy to Income Targeted Tax Exemption Policy - Added the term "income brackets" - Section 2.4 - added household income chart, and added sentence "These amounts will be adjusted annually and increased by the annual increase in the CPI for Nova Scotia at December 31 annually to a maximum of 3.5%." - Section 2.6 - added "and shall not exceed", removed but only up to a maximum of $200.00. - Section 2.7 - removed "requesting a tax exemption", "income tax" and added, "Notice of Assessment, and (for example, for the 2026 application, applicants would provide the Notice of Assessment for the 2024 tax year). - Section 2.8 - added "period", replaced the deadline of March 15th of each year to "will be January 1 to March 15 annually. No late applications will be accepted", and "all income earners". Removed "no later than June 30th. Consideration may be given by Council to individual applications received after this date only if Council deems such consideration is warranted due to extenuating circumstances." - Part 3 Policy Review - added "prior to the approval of the operating budget immediately following the general municipal election every four years on an annual basis." - Removed Schedule A. MUNICIPALITY OF THE DISTRICT OF YARMOUTH Income Targeted Tax Exemption Policy I-683-25 Effective Date: December 11, 2025 Income Targeted Tax Exemption Policy I-683-25 Page 4 - Application Form: added the household amount table, changed deadline to March 15, 2026, removed "up to $200", changed $50,000 to $60,000, removed bullet point "Supporting documentation (Notice of Assessment from Canada Revenue Agency) verifying income for all income earners residing in the household must be received no later than June 30th, 2025." MUNICIPALITY OF THE DISTRICT OF YARMOUTH Income Targeted Tax Exemption Policy I-683-25 Effective Date: December 11, 2025 Income Targeted Tax Exemption Policy I-683-25 Page 5 2026/2027 Income Targeted Property Tax Exemption Application Form Assessment Account number (on your tax bill): Registered Owner(s) of Property (on your deed): Address of Property (Civic Address): Telephone Number/Email Address: Do you live at the property, and is it your principal residence? Yes No Proof of income for the 2024 taxation Notice of Assessment year must be included with your application Applicant's income: (line 15000 of Notice of Assessment) $ Income of applicant's spouse, husband, wife, common law partner, or domestic partner. (line 15000 of Notice of Assessment) $ Other resident(s) income. (line 15000 of Notice of Assessment) $ Combined Household Income (Must be $60,000 or less to qualify) 0 - 29,999 $300 30,000 - 44,999 $200 45,000 - 60,000 $100 $ Please be sure your application is complete, and you have included proof of income from Canada Revenue Agency (CRA) for all income earners in the household. (Notice of Assessment) I/We hereby declare that the above information is a true and accurate statement. _____________________________ ___________________________________ Signature of Applicant Signature of Co-applicant _____________________________ _________________________________ Date Date 932 Highway 1, Hebron, NS B5A 5Z5 Phone: 902-742-7159 Fax: 902-742-3164 Email: admin@munyarmouth.ca MUNICIPALITY OF THE DISTRICT OF YARMOUTH Income Targeted Tax Exemption Policy I-683-25 Effective Date: December 11, 2025 Income Targeted Tax Exemption Policy I-683-25 Page 6 Application information: - The deadline for applications is March 15, 2026. - The maximum amount is 50% of the current year's tax bill. - This amount will be applied to the tax account. - The total household income from all sources in the preceding year, 2024, cannot exceed $60,000. - Please note: Income Tax Returns/T4 Slips will not be accepted. Failure to supply the household members' Notice of Assessment will render the application ineligible. - All residential taxes for previous years must be paid to date and in good standing. Submitting your completed application: You can return your completed form (with accompanying documentation) in person, by mail, by email, or by fax to: Municipality of Yarmouth, 932 Highway 1, Hebron, NS B5A 5Z5 admin@munyarmouth.ca (fax) 902-742-3164 Sample of Notice of Assessment from Canada Revenue Agency (CRA)