Business Tax Credits

Business taxes are based on the value of the property, as assessed by the Municipal Assessment Agency.  The rate of business tax depends on the class of business. For a breakdown of business classes and associated tax rates, please see the City of Corner Brook 2018 Tax Rates.

All questions regarding your tax bill can be directed to the Accounts Receivable department, phone: 637-1538, email:  accountsrec@cornerbrook.com.

If you would like to set up payment plan options you can contact the City Collector, phone:  637-1568, email:  collector@cornerbrook.com.

Business Improvement Program (BIP)

The BIP is an annually budgeted initiative aimed at improving the frontal appearance of commercial properties in the City, while maintaining their traditional character and appeal.

For Information:  Business Improvement Program 

Economic Diversification and Growth Enterprise (EDGE) Program

The EDGE program of the provincial government provides substantial tax relief to new businesses investment.  The City of Corner Brook participates in the Provincial Economic Diversification and Growth Enterprise (EDGE) Program.  The government’s goal is to diversify the economy and stimulate new private sector job creation.

Businesses that meet the criteria are provided:

  • A 100% rebate on provincial corporate income tax and payroll tax for 15 years
  • A 50% rebate on federal corporate income tax for 15 years
  • A 100% rebate on City of Corner Brook property and/or business taxes for 10 years

For more information on the EDGE program click here. You may also contact the local office of the Department of Business, Tourism, culture and Rural Development for more information.

Business Tax Incentive Policy

The City of Corner Brook also offers generous tax incentives to new businesses locating in the Lundrigan Business Park, Watson’s Pond, and Maple Valley Industrial Parks.  Businesses that meet the requirements are entitled to the following incentives:

  • 100% exemption for the first year when that business would otherwise be responsible for the business tax
  • 80% exemption for the second year
  • 70% exemption for the third year
  • 40% exemption for the fourth year

For more information, please click here.