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I <br />Bog 98 891 <br />For the display advertisement, I recommend running a 1/.4 page ad <br />four times in October for a total cost of $1,401.84. <br />Grand Total Cost $8,093.60 + $1,401.84 = $9,495.44 aLw ne,4 6.eccti✓tee <br />�e-e SPee.tAe.S ` ,,1p to 0/6,000 <br />Are your taxes too high? <br />f Now you can do something about it. <br />Currently, Indian River County homeowners pay more than 65% of the county's property taxes. <br />To lessen the residential tax burden, the county needs to attract more clean, light industry. <br />what is Limited Tax Exemption (Abatement)? <br />The exemption is limited to ten years with 1000/. of eligible taxes abated for the first five years <br />and a 20% per year reduction for the next five years. The exemption affects only 14% of a qualified <br />industrial firm's total tax bill over the ten-year period. <br />�'Phy Tax Exemption? <br />✓Provides an economic incentive to encourage new, clean industries with high paying jobs to move <br />into Indian River County <br />ri Encourages existing businesses to expand <br />✓Attracts new clean industry that requires fewer services than retail and residential development <br />✓Allows Indian River County to compete for new industry at the same level as neighboring counties <br />✓NNg direct costs to the county (only forgoes revenue that may not have existed otherwise) <br />Fregwe[I ft asked questions: <br />Will the tax exemption program increase the amount of taxes a resident must pay? <br />No. <br />Can any business take advantage of the tax exemption program? <br />No. Only new or existing manufacturing -related businesses and new corporate offices. Does <br />NOT apply to retail businesses, is renewable and will be monitored. <br />Will the tax exemption program mean more competition for existing local businesses? <br />No. Industries eligible for a tax exemption make products that are distributed to markets <br />outside Indian River County. It creates customers for local business, not competitors. <br />Can the county lose existing revenue as a result of the tax exemption program? <br />No. It affects only property improvements & new equipment without reducing the current <br />level of collected or assessed property taxes. School & special district taxes will not be exempt. <br />How does Tax Exemption benefit 3•ou? <br />Tax Exemption will: <br />✓Help pay the cost of county services <br />✓Bring relief to existing homeowner taxpayers <br />✓Balance and diversify the county's economy to protect our quality of life <br />✓Create high paying jobs for existing county residents and their children <br />✓Reduce the county's high unemployment rate <br />Vote `/ h <br />in favor of the Tax Exemption referendum <br />® ort November <br />For more information, r(mtact the County Phunting tk-twrUuwzit at 567 -RM, ..eteimion 243 <br />AUGUST 13, 1996 <br />6'4 <br />M <br />