Step 1: Choose your Rental Commitment
Select the 5 or 10 year rental commitment period.
Step 2: Apply
Complete the application and attach a description and/or drawings of your proposed rental units.
Step 3: City Approval
The City reviews your application and sends an approval letter.
Step 4: Complete the Project
Proceed with construction in line with the approval and program conditions.
Step 5: Tax Abatement Begins
Once the City confirms requirements are met, the tax abatement is applied starting in the applicable taxation year.
Who can apply, and what projects qualify?
Developers or property owners building new multi-family rental housing with five (5) or more units in Yorkton may apply. All property taxes and special taxes must be paid in full for an application to be approved.
How does the RHIP tax abatement work?
If approved, RHIP provides a 100% municipal tax abatement for two (2) or (5) years. The length of the abatement depends on how long the units will be kept as rental housing. Units must be rented at fair market value or less.
5-year Rental Commitment: If the new units are kept as rentals for 5 years, you get a 100% municipal tax abatement for 2 years. Rents can be at or below market value.
10-year Rental Commitment: If the new units are kept as rentals for 10 years, you get a 100% municipal tax abatement for 5 years. Rents can be at or below market value.
Construction on my rental units has already begun, can I still apply?
No, the application form must be submitted before the building permit is issued.
Is there a minimum or maximum rent requirement under RHIP?
Yes. RHIP requires that units be rented at fair market value or less, based on CMHC fair market rent for the Yorkton CA (Census Agglomeration).
Maximum Rent: Rent must not exceed the applicable CMHC fair market rent for the Yorkton CA.
Minimum Rent: There is no minimum rent set by RHIP (other than compliance with applicable laws and standards).
When does the tax abatement start?
The abatement begins after construction is complete, starting January 1 of the taxation year following completion of construction, and issuance of the new assessment (Notice of Assessment) that includes the improvements.
For Example:
- If construction is completed on or before September 30, 2026, the abatement would start on January 1, 2027.
- If construction is completed on or after October 1, 2026, the abatement would start on January 1, 2028 (because the start moves to the following taxation year as the improvements would not be listed on 2027 Tax Notice).
Is there an agreement registered on title?
Yes. If approved, the program is provided through a contract/agreement that is registered on title (and the City may register a lien and/or caveat related to the rental commitment).
Can condominium projects apply?
Yes, but additional steps apply. Contact the City of Yorkton Economic Development Department for more information.
Does RHIP cancel old taxes or unpaid taxes?
No. No exemption or abatement of outstanding or current taxes will be negotiated. Taxes must be paid up to date to be approved for RHIP.
