This program is intended to encourage buyers to choose Penhold as their home.
The New Home Buyer Program was developed to offer individuals purchasing a newly constructed home in Penhold a municipal tax reduction of 50% the first year, and 25% the second year they own the home. This program has been extended into 2025.
Anyone who purchases a newly constructed, never been lived in, home in Penhold can apply for this program. Applications must be completed and submitted with a copy of land title within 60 days of land title transfer to owner of newly constructed home.
Example: Based on 2022 rates, property valued at $300,000.
Multiply property value by:
Municipal: *(8.7762/1000) = 2632.86 **rebate is on municipal tax rate only
(rate includes municipal & police)
School: (2.56/1000) = 768.00
Seniors: (0.0188/1000) = 5.64
TOTAL TAXES: $3,406.50
ESTIMATED TOTAL TAX BILL SAVINGS AFTER REBATE:
Year 1 = $1,316.43 Year 2 = $ 658.22
New Home Buyer Program Application Form
New Home Buyer Incentive Program Application Form
Applications for this program must be completed by purchasers and submitted to Town of Penhold with a copy of new land title within 60 days of Land Title change to new owner's name(s).