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Photo Randy Vanderveen
Grande Prairie, Alberta
2020-10-15
A service rig works at a well site north of Cutbank Lake on a snowy October afternoon. The province announced a series of measures Monday aimed at helping the beleaguered oil and gas industry, including a property tax exemption for new projects. It is also dropping its tax on well drilling equipment, lowering assessments for less productive oil and gas wells, and extending a recently introduced 35 per cent assessment reduction on shallow gas wells. The move is not a popular one with rural municipalities, who are glad the industry received a break but now have to contend with lower tax revenue which could be downloaded on residents.
Grande Prairie, Alberta
2020-10-15
A service rig works at a well site north of Cutbank Lake on a snowy October afternoon. The province announced a series of measures Monday aimed at helping the beleaguered oil and gas industry, including a property tax exemption for new projects. It is also dropping its tax on well drilling equipment, lowering assessments for less productive oil and gas wells, and extending a recently introduced 35 per cent assessment reduction on shallow gas wells. The move is not a popular one with rural municipalities, who are glad the industry received a break but now have to contend with lower tax revenue which could be downloaded on residents.
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