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03/30/2021 5.A. <br />• Tax abatement ordinance requires tax abatement grantees to enter into a <br />tax exemption (abatement) agreement with the county <br />• meet all exemption (abatement) requirements on a continuing basis <br />• file an annual compliance report with the county <br />• immediately advise the county of any failure of the business to meet <br />exemption (abatement) requirements <br />• BCC is authorized to revoke or revise the exemption if BCC determines that <br />the business no longer meets the exemption requirements or that the <br />application or any annual report contains a materially false statement that <br />would have affected granting or continuing the exemption <br />• Diamond Drinks of Florida, Inc. Tangible Personal Property qualifies for <br />County tax abatement <br />• Staff's analysis indicates that the Diamond Drinks of Florida, Inc. tax <br />abatement application scores in the ;second (middle) award category <br />• Proposed Diamond Drinks of Florida, Inc. facility qualifies for a 8 year tax <br />abatement beginning in 2022 <br />• Maximum potential total tangible personal property tax abatement over the 8 <br />year period in current dollars is roughly estimated to be $45,361 <br />• Maximum potential total tangible personal property taxes paid in current <br />dollars is roughly estimated to be $69,312 for schools, bonds, and other <br />districts and $18,035 for the general fund, MSTU, and emergency <br />services fund <br />4A- 7 <br />