Red Deer city council on Thursday approved the Business Improvement Area tax rate, which confirms this year’s levy for businesses in the downtown.
Council has directed administration to encourage the Downtown Business Association to bring in a 2021 budget that provides relief to businesses through an amount lower than the current budget.
“We recognize the challenges COVID-19 has posed for our downtown businesses, many of whom were facing financial challenges prior to this pandemic,” said Mayor Tara Veer.
“We have extended the 2020 BIA tax payment deadline to ease the financial burden for local businesses, and encourage the Downtown Business Association to do what they can to minimize their 2021 budget to provide further relief to our downtown businesses.”
While BIA taxes are typically due June 30, the 2020 deadline was extended to Sept. 30 in recognition of economic challenges due to the current crisis.
BIA taxes are collected by the city and then used by the association for such initiatives as improving and maintaining property in the area, developing or maintaining public parking, and promoting the area.