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Lumby ponders tax exemptions
It’s undetermined whether Lumby will chop taxes to stimulate the economy.
Council received a staff report Monday on possibly creating a revitalization tax exemption for businesses and developers. However, no decision was made.
“We need to put together more of a plan before we start cutting taxes,” said Mayor Kevin Acton.
“We want to do more public consultation. If we go ahead with revitalization, we want to see what people want done.”
Staff has reviewed how other municipalities handle tax exemptions to spur development, but Acton says that may be irrelevant to Lumby’s needs.
“We have looked at other communities that have done it but I don’t see anything working really well for anyone,” he said.
It’s expected village staff will bring more information before council Aug. 13.