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A New Deal for Heritage Properties

heritage house

Program Overview
The City of Port Moody offers a tax exemption program to owners of Heritage property listed on the City’s Heritage Register, and land within the designated Moody Centre Heritage Conservation Area and Heritage
Character Area. This tax exemption bylaw lowers costs for property owners for up to 10 years after a major capital investment. The exemption is based on your annual property taxes, and its specifics depend on your project’s value and heritage status.

The four main goals of our Heritage Revitalization Tax
Exemption Program are to:

  • support the conservation of heritage properties.
  • foster revitalization through heritage and cultural
    awareness.
  • increase the economic vitality of the city’s designated
    heritage areas.
  • enhance quality of life in the city.

Benefits
The program helps offset the cost of heritage conservation projects and creates an incentive for redevelopment that meets heritage and sustainability guidelines in the city’s heritage precinct. By making improvements to their property, owners see a return on their investment. The whole community benefits from a stronger of place in an identified historic area of the city.

What properties are eligible?
Eligible lots must not be currently receiving a municipal tax exemption or have property taxes in arrears and include:

  • lots listed on the City’s Heritage Register; and
  • lots located within the Moody Centre Heritage
    Conservation and Character Areas.

Port Moody’s designated heritage areas are outlined on the map below:

Heritage Revitalization bylaw map

select the map above for a larger view

 

What type of projects are eligible?
A project must be consistent with the Official Community
Plan land use designation for the lot, and involve either:

  • preserving the heritage significance of a building on the City’s Heritage Register with qualifying project costs valued at $15,000 or greater.
  • a construction value of $100,000 or greater as determined by building permits issued where the project retains the existing principal building. Projects must also follow the Moody Centre Heritage Conservation Area guidelines, and either involve a green
    building or heritage conservation.

How much is the tax exemption?
The amount of the exemption is the lesser of:

  • the increase in the assessed value of improvements of the lot between the year before construction starts and the year in which the tax exemption is issued; or
  • 100% of the municipal share of the property tax due annually in relation to the improvements on the lot for a maximum term of 10 years for Heritage Register properties and five years otherwise.

Application Checklist
Owners should start the application process by visiting the City’s Development Services Department and speak with staff. Once we confirm
eligibility, you must submit:

  • A certificate that all taxes and fees imposed on
    the lot are paid, or schedule for payment by
    installment.
  • A current BCAA property assessment notice.
  • A completed written application to the Director of
    Development Services.
  • A description of the improvements that would be
    eligible.
  • A site plan of the proposed project.
  • Other plans and specifications for the project.
  • An estimate of the value of the project (to be
    confirmed via the Building Permit process).
  • The application fee.

The owner must enter into an agreement with the City regarding undertaking the works. The City then issues a tax exemption certificate for the specific amount.

What is a heritage building?
There are no hard and fast rules, no binding legal definitions, that determine what is, and what is not, a heritage building. Of course, everyone thinks of heritage as old. “Heritage”, however, is best
understood when joined to another word, such as conservation. The term “heritage conservation” was coined in Canada to describe the movement that advocated an alternative to redevelopment that
was destroying irreplaceable vintage buildings. In this sense, heritage is clearly understood to mean something worth keeping, preserving, and
protecting.

The heritage movement is concerned with preserving the history of all walks of life, all human activities, all peoples. Heritage is, simply, what we agree is worth keeping.

If you’re a property owner on the Heritage Register or within the designated heritage areas in Moody Centre, find out more about our Heritage Revitalization Tax Exemption Bylaw.

Contact the Planning Division at the City of Port Moody.
Phone: 604.469.4540
Email: heritage@portmoody.ca
Fax: 604.469.4533

Quick links - red

  • Moody Centre Heritage Conservation Area
    Guidelines
  • Heritage Register
  • Heritage Revitalization Tax Exemption brochure
  • Last updated: 12/03/2013 1:06:09 PM