Subject:
Title
Historic Preservation Ad Valorem Tax Exemption for two historic properties in the City of St. Petersburg.
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Recommended Action:
Recommended Action
Approval of the resolutions authorizing a historic preservation tax exemption of County ad valorem taxes for improvements made to the recently rehabilitated historic properties in the City of St. Petersburg identified as:
• The single-family dwelling located at 7321 3rd Avenue North (the Mathis Residence), a local historic landmark listed in the St. Petersburg Register of Historic Places; (PID# 19-31-16-20484-018-0080).
• The single-family dwelling located at 3243 8th Avenue North, a contributing property to the Kenwood Section -- Northwest Kenwood Local Historic District listed in the St. Petersburg Register of Historic Places; (PID# 14-31-16-46350-014-0080).
• These tax exemptions apply only to the increase in the value of improvements after rehabilitation, as determined by the Pinellas County Property Appraiser, and is for a period of ten years.
• The amount of the exemption will impact ad valorem collections including the City of St. Petersburg, the Countywide General Fund, the Emergency Medical Services fund, and the Health Department.
• The revenue loss to the County in Fiscal Year (FY) 2026 for the two properties is $935.00. The revenue loss to the City in FY26 for the two properties is $1,310.00. The revenue loss in future years will likely grow.
Authorize the Chairman to be the signatory party for the County on the historic preservation covenants for these properties and the Clerk of the Circuit Court to attest the resolutions and associated covenants.
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Strategic Priorities:
Resilient Infrastructure and Environment
1.5 Strengthen resilience and adaptation.
Prosperity and Opportunity
3.4 Enhance educational and cultural opportunities.
Summary:
Summary
The City of St. Petersburg has recommended that Pinellas County approve the historic preservation ad valorem tax exemptions for two (2) properties whereby owners have recently completed rehabilitation projects on designated historic properties in the City of St. Petersburg. The addresses for the designated historic properties are:
• 7321 3rd Avenue North
• 3243 8th Avenue North
The historic preservation tax exemption applies only to the increase in the value of improvements after rehabilitation, as determined by the Pinellas County Property Appraiser. The exemption of County ad valorem taxes is for a period of ten (10) years. Work for each project has been reviewed and certified by staff with the St. Petersburg Urban Planning & Historic Preservation Division. The St. Petersburg City Council has already granted a historic preservation exemption of the increase in City ad valorem taxes for a period of (10) ten years for these properties as evidenced by the attached resolutions.
Copies of the City of St Petersburg resolutions, associated staff reports, and historic preservation covenants are provided as an informational attachment to this agenda item. These documents have been reviewed by staff in the Pinellas County Housing & Community Development Department who have concluded that the information, project work, and city approval for the request is consistent with the intent of the historic preservation tax exemption program authorized under Chapter 118, Article V, Pinellas County Code. Therefore, County staff recommends APPROVAL of the requested historic preservation tax exemptions for the designated historic properties referenced above including execution of the associated resolutions and covenants.
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Background Information:
In 1992, the citizens of Florida passed an amendment to the state constitution enabling counties and municipalities to adopt ordinances that allow owners of designated historic properties to apply for historic preservation ad valorem tax exemptions when making substantial renovations and improvements. The Florida Legislature adopted Chapters 196.1997 and Chapter 196.1998, Florida Statutes that establish parameters and requirements for these historic preservation tax exemptions. Specifically, up to a ten-year exemption is allowed on up to 100% of the assessed value of improvements made to designated historic properties.
In January 1996, the Pinellas County Board of County Commissioners adopted an ordinance (Chapter 118, Article V, Pinellas County Code) providing for historic preservation ad valorem tax exemptions to be ten (10) years in duration on 100% of the assessed value of improvements made in rehabilitating a designated historic property.
Properties eligible for the tax exemption include buildings individually listed on the National Register of Historic Places; listed as a contributing resource in a National Register Historic District; designated by local ordinance as a historic property, such as a Local Historic Landmark; or designated by local ordinance as a contributing resource in a local historic district. The County’s tax exemption is available to owners of eligible historic properties in the unincorporated area and in municipalities that have adopted the historic preservation tax exemption ordinance.
Since 1996, the County has approved ad valorem tax exemptions as a historic preservation incentive for 94 applicants.
Fiscal Impact:
The total value of the tax exemption to be realized at the end of the 10-year period depends on future market values and tax rates, which are calculated annually using established appraisal formulas. Because of this, the total dollar value of these exemptions cannot be precisely predicted.
The anticipated fiscal impact for FY26 to the County with a millage rate of 4.6136 is approximately
• $435 in tax savings for the property owner at 7321 3rd Ave N.
• $500 in tax savings for the property owner at 3243 8th Ave N.
The anticipated fiscal impact for FY26 to the City with a millage rate of 6.4525 is approximately:
• $610 in tax savings to the property owner at 7321 3rd Ave N.
• $700 in tax savings to the property owner at 3243 8th Ave N.
Assuming a growth increase of 3.0% annually during the 10-year period and the millage rate unchanged, the estimated fiscal impact to the County over the 10-year period is approximately
• $5,000 in tax savings to the property owner at 7321 3rd Ave N.
• $5,700 in tax savings to the property owner at 3243 8th Ave N.
The estimated fiscal impact to the City over the 10-year period is approximately
• $7,000 in tax savings to the property owner at 7321 3rd Ave N.
• $8,000 in tax savings to the property owner at 3243 8th Ave N.
Staff Member Responsible:
Gregg Mims, Director, Housing & Community Development
Tom Scofield, Principal Planner, Housing & Community Development
Partners:
City of St. Petersburg
Attachments:
BCC Resolution, 7321 3rd Avenue North - PROPOSED
BCC Resolution, 3243 8th Avenue North - PROPOSED
City of St Petersburg Agenda Package & Signed Resolutions (informational)
Chap 118, Article V, Pinellas County Code