The County of Lambton could soon be eliminating its municipal property tax rebate program.
It provides commercial and industrial owners with an up to 35% rebate if part of their property is vacant for three months or more.
Finance GM John Innes says the county's current program has become redundant because of changes made by the Municipal Property Assessment Corporation (MPAC).
"It is now routine and common for MPAC to factor vacancy into the evaluation of a property," says Innes. "This was not done in the past because it was always valued on the basis of full occupancy. How the tax structure reflects the vacancy, the methodologies have changed in 20 years. We're simply saying the program needs to change to reflect the current reality."
Innes says staff will meet with members of the Sarnia-Lambton Chamber of Commerce, and make the information available to businesses.
Council will debate the issue May 3. If approved, the changes would take effect on January 1, 2018.
