Subject:
Title
Resolution to Amend the Ad Valorem Tax Abatement Program Guidelines
End
Fiscal Impact:
N/A
Dept/Office:
Economic Development Commission of Florida’s Space Coast/County Manager’s Office
Requested Action:
Recommendation
The Economic Development Commission of Florida’s Space Coast requests the Board of County Commissioners adopt a Resolution amending 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.
End
Summary Explanation and Background:
The Ad Valorem Tax Abatement (AVT) Council of the Economic Development Commission of Florida’s Space Coast is recommending to revise the Brevard County Ad Valorem Tax Abatement program guidelines to reflect the 2022 Brevard County average annual wage of $61,784 that was effective on January 1, 2024, as published by FloridaCommerce (formerly known as Enterprise Florida) - sourced by Florida Department of Commerce, Labor Market Statistics Center, Quarterly Census of Employment and Wages Program, in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics.
This average wage ($61,784) would replace the current average wage ($57,927) in the Brevard County Ad Valorem Tax Abatement program guidelines.
The request and backup documents are attached.
EDC Contact: EdgarCP@SpaceCoastEDC.org, 321-638-2000
Staff Contact: Frank.Abbate@brevardfl.gov, 321-633-2001
Clerk to the Board Instructions:
Upon approval by the Board, execution by the Chair, and attestation by the Clerk, please return a copy of the executed resolution to the County Manager’s Office, the County Attorney’s Office, and the EDC of Florida Space Coast at 6525 3rd Street, Suite 304, Rockledge, Florida 32955.