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1996-056
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1996-056
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Last modified
10/16/2015 4:51:08 PM
Creation date
10/16/2015 4:46:31 PM
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Resolutions
Resolution Number
1996-056
Approved Date
05/14/1996
Resolution Type
Creating Economic Development
Ad Valorem Tax Exemptions
Subject
To encourage econimic development
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personal property of such new business for the first five <br />years of the ten year term, abatement to be reduced 20 <br />percentage points per year for the next five year period, <br />so that in year 10, 100k of the taxes are due and <br />payable; or up to 100 percent of the assessed value of <br />all added improvements to real property made to <br />facilitate the expansion of an existing business and of <br />the net increase in all tangible personal property <br />acquired to facilitate such expansion of an existing <br />business for the first five years of the ten year term, <br />abatement to be reduced 20 percentage points per year for <br />the next five year period, so that in year 10, 100W of <br />the taxes due and payable, provided that the improvements <br />to real property are made or the tangible personal <br />property is added or increased on or after the day the <br />ordinance granting the tax exemption is adopted. <br />(5) The application shall be filed on or before March 1st of <br />the year in which an exemption is requested. <br />(6) No exemption shall be granted for the land on which new <br />or expanded businesses are to be located. <br />(7) No exemption shall be granted for municipal, school or <br />water management district taxes, or on taxes levied for <br />payment of bonds or taxes authorized by a vote of the <br />electors of the County pursuant to Sections 9(b) or 12, <br />Article VII, of the State Constitution. <br />Section 1.07 Procedure <br />(1) To grant a tax exemption to any business, the Board must <br />adopt an ordinance consistent with the requirements of <br />section 1.08 of this resolution. Before the Board acts <br />on a tax exemption request, however, the application may <br />be presented to the Economic Development Council, which <br />is an advisory body of the Board of County Commissioners, <br />and a recommendation made to the Board. The Community <br />Development Department in coordination with the Property <br />Appraiser shall report to the Economic Development <br />Council and to the Board concerning the fiscal impact of <br />granting exemptions. <br />The Report shall include the following: <br />(a) The total revenue available to the county for <br />the current fiscal year from ad valorem tax <br />sources, or an estimate of such revenue if the <br />actual total revenue available cannot be <br />determined. <br />4 <br />
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