With the Town of Canmore rolling out the new Livability Tax Program, there's a big change coming in 2025 for local property taxes. This program is an effort to address our town’s housing crunch by funding more affordability initiatives, like land purchases for affordable housing or improvements to support new developments. Love it or hate it, the program has stirred up some opinions—but most agree that something has to give if we want to keep our local workforce living in town.

The Basics of the Livability Tax Program

Here's the gist: If your Canmore property isn’t lived in full-time, you’ll see an increase in your municipal property tax bill. But for full-time residents, there’s no change in your rate, as long as you declare your property as a primary residence. The funds from this additional tax revenue on non-primary residences will go towards much-needed housing initiatives.

The Town hasn’t set the exact premium rate yet, and they haven’t released an estimated range for what non-primary owners might pay, rumors are 0.1-0.4% but that’s very much just hearsay at this point. It’s something to keep an eye on, as details are expected to be shared closer to when the program fully rolls out. For now, all property owners need to focus on completing their declarations to avoid any unexpected charges if they qualify for the primary residence tax rate.

The clock is ticking! To get your primary residence status, you’ll need to declare by December 31, 2024. So, let’s dive into what you need to know and how to get started.

Primary Residence or Not?

So, does your property qualify? To be considered a primary residence:

• A resident (either an owner or a renter) must live on the property for at least 183 cumulative days in a calendar year.

• Of those 183 days, at least 60 must be continuous (but don’t worry, weekend getaways are allowed). This rule is simply in place to ensure the home is genuinely a primary residence, not a short-term rental.

Some properties are automatically categorized as primary residences, like apartment buildings, employee housing, and certain individually titled parking stalls and storage units, so if you own one of these, you’re set.

But if your property doesn’t qualify as a full-time residence (like a tourist home), or if you just can’t meet those occupancy requirements, expect to pay a bit more next year.

Exemptions to the Full-Time Residency Requirement

There are a few situations where you might be eligible for an exemption. Even if your property wasn’t occupied full-time due to certain events, you’ll still need to make a declaration if any of the following apply:

• The owner was hospitalized, in long-term care, or, sadly, has passed away.

• Major renovations, a catastrophic event, or a legally enforced prohibition meant the property couldn’t be lived in.

• Or if the property was sold to a third party.

These cases won’t be subject to the higher tax, as long as the declaration is submitted.

How to Make Your Declaration Before December 31

The good news? You should have received a notice in the mail with your Tax Roll number and Access Code, if you don’t have them - go check your mailbox and if it’s still not there, email houseingaction@canmore.ca.  Once you have the access code, the declaration is now open and available on the Town’s website here. Simply complete it by December 31 to qualify for the primary residential tax subclass. Missing the deadline will mean your property is automatically taxed at the higher non-primary residence rate, which could make for an unpleasant surprise when your 2025 bill arrives.

Key Points and Consequences

Declaring your property’s status isn’t optional; it’s required under the Municipal Government Act. Ignoring the deadline will result in your property being taxed at the higher rate, and you’ll also lose your right to appeal the tax assessment in 2025.

The Town will be auditing declarations, so be sure to provide accurate information. False declarations could mean fines of up to $10,000, in addition to having to pay the avoided taxes and penalties.

Why This Matters for Canmore

This program might be a controversial addition, but it's hard to ignore the housing shortage impacting our workforce and community as a whole. With property prices continually on the rise, more people are finding it challenging to live where they work. Funding from the Livability Tax Program could make a real difference in supporting affordable housing and infrastructure that will, hopefully, relieve some of this pressure.

So, whether you’re here year-round or own a vacation spot in Canmore, this new tax program is something you’ll want to stay informed on. And for full-timers, take a few minutes to make your declaration online. It's a small step in making sure that your tax rate remains stable and that we continue building a livable, accessible community for everyone who calls Canmore home.