The COVID-19 pandemic has created a new work-from-home reality for many city dwellers. This has inspired a growing number to consider moving to a scenic rural community like Ponoka where the cost of housing is much lower than the city, and you can enjoy all the advantages of our relaxed, small-town lifestyle without the crowds.
You can buy or build your dream home in Ponoka for much less than it costs in the city.
We also have high-speed, fibre optic Internet, making it easy to work from home and telecommute anywhere!
The Town of Ponoka created our New Resident Attraction and Incentive Program to give city dwellers that extra nudge as you look for the perfect rural community to call home.
The New Resident Attraction and Incentive Program offers the following tax breaks and financial incentives to new and existing residents in Ponoka:
New Build Property Tax Incentive
For buyers of newly built homes that the owner occupies as their primary residence. You can enjoy the following tax savings over three years:
- 75% reduction on the municipal portion of your property taxes in Year 1 following purchase of a new home;
- 50% reduction in Year 2; and
- 24% reduction in Year 3.
That would add up to a total tax savings of more than $4300 on a house with an assessed value of $380,000! (The example above is based on 2020 property tax rates).
To apply for the New Build Property Tax Incentive, please click here to fill out an application form and email it to RealLiving@Ponoka.ca. If you have any questions, please contact RealLiving@Ponoka.ca.
New Resident Grant
For buyers of resale homes.
Buyers of homes that were previously lived in, who move into the home from a municipality outside of Ponoka, will receive:
- A $1000 one-time-per-property grant the year after purchase; or $500 in the case of a manufactured home purchase in a manufactured home park.
New residents who live in a temporary residence in Ponoka such as a rental property for six months or less before buying a home here can also qualify for the New Resident Grant
TO LEARN MORE ABOUT THE TOWN'S NEW RESIDENT INCENTIVE PROGRAM, PLEASE VISIT THE WEBSITE.