The City of Charlottetown has established a new Tax Incentive Strategy Policy. The incentives are designed to encourage development in the bio-technology, financial services and IT sectors; for businesses relocating from non-conforming use properties, and for improvements to existing commercial properties in the downtown area. Rebates under the policy are based on the municipal taxes on the increased portion of property assessment as a result of development over a five year period with rebates at 100%, 80%, 60%, 40% and 20%.

The program will be effective January 1st, 2010 and applications can be picked up at the Economic Development department at City Hall.