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File #: 24-1906A    Version: 1
Type: Ordinance Status: Passed
File created: 10/21/2024 Department: Board of County Commissioners
On agenda: 11/19/2024 Final action: 11/19/2024
Title: Ordinance amending the Pinellas County Code regarding the Economic Development Ad Valorem Tax Exemption process by amending Sections 118-181 to 118-191.
Attachments: 1. Adopted ORD 24-37, 2. RedlineOrdinance, 3. Business Impact Estimate, 4. AATF - EDAVTE Ordinance Final, 5. Notice of Public Hearing, 6. Electronic Affidavit of Publication, 7. Affidavit of Publication

Subject:

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Ordinance amending the Pinellas County Code regarding the Economic Development Ad Valorem Tax Exemption process by amending Sections 118-181 to 118-191.

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Recommended Action:

Recommended Action

Conduct a public hearing and adopt a proposed ordinance, following public comment, amending the Pinellas County Code Sections 118-181 to 118-191.

 

                     The State of Florida provides for the Economic Development Ad Valorem Tax Exemption program pursuant to Article VII, Section 3, of the Constitution of the State of Florida and Section 196.1995, Florida Statutes, upon the successful passage of a referendum. 

                     In a referendum held on August 20, 2024, the electors of Pinellas passed the referendum for the authorization to grant ad valorem tax exemptions. 

                     Pinellas County’s authority to grant ad valorem exemptions will expire on August 21, 2034. 

                     Each project considered for an exemption is required to be approved by an ordinance. At that time, the anticipated fiscal impact of the project will be provided to the Board of County Commissioners for consideration.

                     There is no direct financial impact associated with adopting this ordinance.

                     The Ordinance is exempt from the Business Impact Estimate because it is required for compliance with Federal or State Law or regulation.

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Strategic Plan:

Foster Continual Economic Growth and Vitality:
4.1 Proactively attract and retain businesses with targeted jobs to the county and region

 

Summary:

Summary

Section 196.1995, Florida Statutes, provides for any county or municipality to call a referendum to determine whether its respective jurisdiction may grant economic development ad valorem tax exemptions under Section 3, Article VII of the State Constitution. 
The electors of Pinellas County approved the authorization to grant ad valorem tax exemptions on August 20, 2024.  This ordinance will renew the program to grant exemptions from ad valorem taxes to new businesses and expansions to existing businesses.  Each project to be considered for an exemption is required to be approved by a separate ordinance.

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Background Information:

The economic development ad valorem tax exemption legislation allows Pinellas County to encourage job creation and capital investment by new and expanding businesses, and be competitive in regional, statewide, and national economic development efforts. Many of our city partners, including Largo, Oldsmar, Pinellas Park, St. Petersburg, and Tarpon Springs, offer some form of the exemption.  Neighboring counties Pasco and Manatee also offer the exemption.

By a referendum held on August 26, 2014, the electors of Pinellas County authorized the granting of ad valorem tax exemptions, which may be renewed for a subsequent ten-year period if approved by subsequent referendum. Pinellas County’s original authority to grant exemptions expired on August 27, 2024.  By a referendum held on August 20, 2024, the electors of Pinellas County authorized the renewal of granting ad valorem tax exemptions, which will be renewed for a ten-year period expiring on August 21, 2034.

 

Fiscal Impact:

 

There is no direct financial impact associated with this ordinance. Each project considered for an exemption is required to be approved by an ordinance. At that time, the anticipated fiscal impact of the project will be provided to the Board for consideration.

 

Staff Member Responsible:

Dr. Cynthia Johnson, Director, Economic Development
Suzanne Christman, Division Director, Economic Development

 

Partners:

N/A

 

Attachments:

Ordinance
Notice of Public Hearing
Business Impact Estimate