The town of Ponoka is offering Tax Breaks and Cash Incentives for New Residents and Businesses that move to Ponoka in 2021. 

“You can build or buy a home in Ponoka for a lot less than it would cost in larger communities, and you get to take advantage of our relaxed, small-town lifestyle and all that our community has to offer,” said Ponoka Mayor Rick Bonnett. 

New residents who buy and move into a newly built home in Ponoka in 2021 can save 75 per cent on the municipal portion of their property taxes in the first year; 50 per cent in the second year; and 25 per cent in the third year. 

New residents who buy and move into a resale home in Ponoka in 2021 can receive a $1,000 one-time- per-property grant payment if they apply for the Town’s New Resident Grant. 

For more information on tax and cash incentives for Ponoka residents, click here. 

Additionally, the town is offering a similar type of incentive to new businesses that come to Ponoka. The New Business Grant offers up to $1,000 grant pay to businesses that move to Ponoka who have not previously operated in the town. 

The Town’s Commercial New Build Incentive offers property tax breaks over three years to new or existing businesses in Ponoka that build a new property on commercially-zoned land in town. Those businesses can save 75 per cent on the municipal portion of their property taxes in the first year; 50 per cent in the second year; and 25 per cent in the third year. 

For more information on Ponoka’s new business incentive, click here. 

“By attracting new residents and businesses to our community, we can continue to expand the quality of life advantages that we offer to our residents and help our community grow and thrive into the future,” said Mayor Bonnett.

Bonnett believes that pandemic has encouraged some people to consider moving into more rural communities where the cost of living is not so high.