Community revitalization levy
A Community Revitalization Levy (CRL) is a unique funding opportunity provided by the province to accelerate the redevelopment of a specific area. The CRL was approved by the province in December 2012. This levy is adopted by municipal council and the province, and is applied to increases in assessed value to the properties within the CRL boundary.
A Community Revitalization Levy is not an additional property tax. When there are increases to assessed property values, the municipal revenue and the provincial education portion of the property tax collected on the increased value will be spent on public improvement projects in the CRL area. This funding mechanism does not require tax revenues from other areas in town to pay for these public improvement projects.
Current projects funded by the CRL
- Centre Avenue rail crossing
- Sidewalks on Railway Street
- landscaping in the Centre Avenue commercial area