This program is intended to encourage buyers to choose Penhold as their home.
Starting May 1, 2020 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. Anyone who purchases a newly constructed, never been live in, home in Penhold between May 1, 2020 and December 31, 2021 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 2019 rates, property valued at $300,000.
Multiply property value by:
Municipal:*(9.3/1000) = 2,790.0 **rebate is on municipal tax rate only
School:*(2.801/1000) = 840.30
Seniors:*(0.02027/1000) = 6.08
TOTAL TAXES: $3,636.38
ESTIMATED TOTAL TAX BILL SAVINGS AFTER REBATE:
Year 1 = $1,395.00 Year 2 = $ 697.50
Click here to learn more about why Penhold is the community for you to call home.
The New Home Buyer Incentive Program begins May 1, 2020 and ends December 31, 2021. 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).