Subject:
Title
Resolution to Adopt the Ad Valorem Tax Abatement Program Guidelines
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Fiscal Impact:
There is no fiscal impact to this requested action.
Dept/Office:
County Manager/Economic Development Commission of Florida’s Space Coast
Requested Action:
Recommendation
The Economic Development Commission of Florida’s Space Coast requests that the Board of County Commissioners 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 March 30, 2026, 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, the Incentives Average Wage Requirement, and the 2024 Private Average Annual County Wage Data, Effective January 1, 2026. The reported Brevard County Average Annual Wage effective January 1, 2026, is $68,052, an increase of 0.08 from the previous year. This Report shows that Brevard County has the sixth-highest wage in Florida.
Based on this review, the Council concluded that, due to the smaller companies that will support the larger aerospace and manufacturing companies in Brevard County, 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 the executed copy of the Resolution to the County Manager’s Office