Manitoba agricultural producers with land bordering a waterway are once again eligible to apply for the Riparian Tax Credit, Finance Minister Rosann Wowchuk and Water Stewardship Minister Christine Melnick announced.
“Last year, we doubled the Riparian Tax Credit and simplified the rules for cattle producers,” said Wowchuk. “Our government believes that during these times of economic recovery it’s more important than ever to continue offering programs like this one that put money back into the hands of Manitobans.”
“Manitoba producers are known for being good stewards of the land and the Riparian Tax Credit recognizes those producers and encourages others to join in these best practices,” said Melnick. “Studies have shown that taking care of riverbanks and lakeshores by allowing ground cover to grow back, while limiting livestock grazing and watering, helps prevent erosion and ultimately improves water quality.”
The Riparian Tax Credit requires producers to make a five-year commitment to specific conservation practices on their land, in exchange for an annual property tax reduction.
The basic Riparian Tax Credit ranges from $100 to $140 per riparian acre spread over five years. If riparian areas are sloped 10 per cent or more toward the water, producers can receive a 30 per cent bonus on the basic credit. On former grazing lands, the program provides up to $1,000 extra for an off-site watering facility for livestock. Amounts are limited by net property taxes paid by the landholder.
The ministers encourage those who have had land in the program since 2005 to reapply and extend their participation for five more years.
The deadline to apply for the 2010-14 program is June 30. For more information, contact the Manitoba Tax Assistance Office at 1-800-782-0771 or visit www.gov.mb.ca/finance/tao/riparian.
