The head of Norfolk’s Agricultural Board is looking to make it easier for farmer’s to branch into retail.
Brett Schuyler sent a letter to the Mayor and Council asking them to consider introducing some of the new optional property classes released by the Ministry of Finance.
Right now, if a farmer wants to convert a piece of their property into a business, they need to have a portion of land deemed commercial and pay the corresponding property tax which can be costly.
These new classes would see the first $50,000 in assessed value for eligible on-farm value-added structures be taxed at 25% of the local commercial or industrial tax rate, rather than the full price.
Schuyler believes that this type of expansion will lead to high paying jobs and reinvestment into the local economy.
The hope is council will consider this change and implement it for 2019.