New Resident Attraction and Incentive Program
Ponoka’s New Resident Attraction and Incentive Program is now open for applications!
The new Program is aimed at attracting new residents to Ponoka. It offers property tax breaks of up to 75% and financial incentives to:
- New home buyers in Ponoka;
- New residents who purchase an existing home in town; and
- Residents who complete major renovations on their existing home which result in an increased property assessment value of at least 20 per cent (land is excluded from assessment value calculation).
For more information about the Program, please, CLICK HERE.
To apply for the Program, please complete an application form below:
Assessment Increase Incentive (for Major Renovations that Increase Assessment Value at least 50%) – APPLICATION FORM
“It’s all about attracting new residents to our community and helping our local economy rebound from the negative impact of COVID-19 and the downturn in oil and gas prices,” said Ponoka Mayor Rick Bonnett.
"By attracting new residents, encouraging the construction of new houses and encouraging major renovations on existing homes, we can increase our tax and assessment base, and generate new revenue to help our community grow and thrive in the future," said Mayor Bonnett. "Attracting new residents also increases the number of people who shop at our local businesses, which helps build a stronger local economy," he said.