Peterson’s AG Grocery

Commercial

Are you considering expanding your existing business or starting a new business in Gull Lake?  The Gull Lake Town Council is here to support your decision to locate or expand your Commercial Business in Gull Lake. The Town of Gull Lake has Tax Incentive Policies to help existing businesses looking to expand, and incentives for new businesses looking to locate to Gull Lake.

Definition of a New Business:

– A business subject to commercial taxation. Home based businesses and businesses subject to grants in lieu are excluded.

Any new business will qualify for the following assessment exemptions:

– The assessment exemption will be applied to any increased assessed value, (improvement), of an existing building due to new construction;

– The assessment exemption will be applied to any increased assessed value, (improvement), of an existing building due to renovations that require a building permit.

– The exemption will also be applied to the assessed value of any expansion or new construction on bare land.

* The exemption does not apply to the assessment of any land.

The exemption will be applied as follows:

100% exempt in year one

50% exempt in year two

25% exempt in year three

Full taxation in year four

The exemptions are applied once the expansion (additions/improvements) or new construction is assessable.

* Council reserves the right to approve each incentive package individually and to customize incentives to any specific project.

Definition of an Existing Business:

– A business subject to commercial taxation, thus home based businesses and businesses subject to grants in lieu are excluded.

Any existing business will qualify for the following assessment exemptions:

– The assessment exemption will be applied to any increased assessed value, (improvement), of an existing building due to new construction;

– The assessment exemption will be applied to any increased assessed value, (improvement), of an existing building due to renovations that require a building permit.

– The exemption will also be applied to the assessed value of any expansion or new construction on bare land.

* The exemption does not apply to the assessment of the land.

The exemption will be applied as follows:

100% exempt in year one

100% exempt in year two

50% exempt in year three

25% exempt in year four

Full taxation in year five

The exemptions are applied once the expansion (additions/improvements) or new construction is assessable.

* Council reserves the right to approve each incentive package individually and to customize incentives to any specific project.

** Existing Commercial Businesses are also eligible to take advantage of, “FAÇADE & SITE IMPROVEMENT INCENTIVE POLICY

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