Subject:
Title
An Ordinance Rescinding Selected Companies’ Economic Development Ad Valorem Tax Exemptions
End
Fiscal Impact:
The Companies listed on the Ordinance rescinding their Economic Development Tax Exemption would no longer be eligible to receive an ad valorem tax exemption beginning with the 2021 property tax bill. Neither company has received an ad valorem tax exemption to-date.
Dept/Office:
County Manager
Requested Action:
Recommendation
It is recommended that the Board of County Commissioners adopt a Ordinance rescinding Economic Development Ad Valorem Tax exemption for selected companies that no longer qualify for the County’s program.
End
Summary Explanation and Background:
The Brevard County Economic Development Ad Valorem Tax Exemption program requires that all companies participating in this program maintain its eligibility each year. The County reviews each company’s eligibility through their Annual Report filed each year with the County. The Annual Report provides the following information, tangible personal property added, the type of business, total sales in Florida and elsewhere, and the number employees employed by the company in Brevard County. The County also reviews Federal or State employment information and the information obtained in the records of the Property Appraiser’s Office whether an ad valorem tax exemption was applied to the company’s real and tangible personal property. In cases where the County and the State have Resolutions approving joint participation with Qualified Targeted Industries (QTIs), the County reviews the Florida Department of Economic Opportunity’s records.
During the County’s annual review of the County’s Economic Development Ad Valorem Tax Exemption program, it was determined that the companies listed below didn’t file a 2020 Annual Report with the County. Without receiving the 2020 Annual Report, the County could not determine eligibility for continuation in the County’s Economic Development Ad Valorem Tax Exemption program. Also, Section 102-185(g), Brevard County Code of Ordinances also states in part, that a company is required to submit a report on an annual basis. Staff made several attempts to request the 2020 Annual Report, without response from the companies.
• NewSpace Center, LLC
• Project Rainbow
Clerk to the Board Instructions: