Subject:
Title
Resolution Calling for a Referendum: Economic Development - Ad Valorem Tax Abatement Program
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Fiscal Impact:
Dept/Office:
District 5 Commission Office
Requested Action:
Recommendation
Request the Board of County Commissioners adopt the attached Resolution calling for a referendum election on November 5, 2024 to renew the authority of the Board of County Commissioners to grant tax exemptions for new and expanding businesses; authorize the Chairman and County Attorney to sign the necessary documents; authorize staff to make necessary budget changes.
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Summary Explanation and Background:
Unless renewed by referendum approval, the Ad Valorem Tax Abatement Program ("Program") will sunset in November, 2024. As required by Section 196.1995 Florida Statutes, the Program must be renewed every ten years to remain in effect. The County Attorney has reviewed the necessary resolution to formalize the call for a referendum on the November 5, 2024 ballot, allowing Brevard County voters to vote on whether or not to continue the Program.
The Ad Valorem tax exemption program has been instrumental in bringing economic development projects to Brevard County.
Clerk to the Board Instructions: