Subject:
Title
Resolution to Adopt the Ad Valorem Tax Abatement Program Guidelines
End
Fiscal Impact:
None
Dept/Office:
County Manager’s Office
Requested Action:
Recommendation
The Economic Development Commission of Florida’s Space Coast requests the Board of County Commissioners to adopt a Resolution acknowledging the guidelines for the Brevard County Ad Valorem Tax Abatement Program as recommended by the Economic Development Commission of Florida’s Space Coast’s Ad Valorem Tax Abatement Council.
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Summary Explanation and Background:
The Economic Development Commission of Florida’s Space Coast’s Ad Valorem Tax Abatement Council (the Council), in its advisory capacity to the Board of County Commissioners (the Board)
met on June 10, 2025, to review the Tax Abatement Program’s Guidelines.
Each year, the Council meets to review and discuss the Program guidelines along with the most recent published Average Annual Wage reported by the Florida Department of Commerce, Labor Market Statistics Center, Quarterly Census of Employment Wages Program, in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics. The reported Average Annual Wage effective for January 1, 2025, is $65,001, an increase of 5.21 percent from January 1, 2024, of $61,784, and reflects that Brevard County has the sixth-highest wage in Florida for the reported period.
Based on this review, the Council concluded that, due to the uncertainty of the local economy and consideration for smaller companies, the Tax Abatement Program’s Guidelines should remain unchanged from the prior year.
The Economic Development Commission of Florida’s Space Coast requests that the Board accept the Council's recommendation to continue using the current Tax Abatement Program Guidelines.
Clerk to the Board Instructions:
Please provide an executed copy of the Resolution to the County Manager’s Office.