Heritage Property Tax Relief
This programme has proved popular since it was introduced in Peterborough in 2003. It allows owners of designated properties to apply for 40 % tax relief for residential owners and 20 % for commercial owners, provided certain criteria are met. It is designed to support owners who have chosen to protect their buildings and encourages preservation and improvements to heritage properties. Owners sign a heritage conservation easement, agreeing to maintain the property to a recognized conservation standard.
Until the program’s operation is reviewed in 2008, the City has mandated that all properties must either be within Schedule “J” (the oldest part of the city) OR have been designated prior to Dec. 31, 1992.