Fort Walton Beach Ordinance — 2034--EDATE American Elite PPE- Project PPE — reading text

0new business Dexpansion of an existing business neither VI Last year for which exemption maybe applied Application to be filed not later than March 1 Date Signature, Property Appraiser  General Information Ad Valorem property tax exemptions can be granted to new and expanding businesses only after the voters of a city and/or county vote in a referendum to allow that city or county to grant exemptions . Section 196.1995, Florida Statutes, requires that a referendum be held if: (1) The Board of County Commissioners or governing authority of a municipality (city or county commission) votes to hold such a referendum, or (2) if the county or city commission receives a petition siregular gned byelection ten percent of theelection or special registered calledvoters of theoncounty for voting the taxor incentive city. This referendum referendum orquesti on can for any otherthen be placed before the voters of a city or county at any purpose. If the voters authorize exemptions, a company must first meet the definitions of a new or expanding business as stated in s. 196.012 (15) and ( 16), F.S. The expansion must be on the same or a colocated site of the business current operations. If a business meets one of the above definitions as a new or expanding business, it must then file this application with the county or city commission or both. After the city or county commission receives this application, it must submit the application to the county property appraiser for review. After the property appraiser makes the report as to the fiscal impact of granting the exemption, the county or city commission shall then adopt an ordinance in the usual manner - granting the exemption, if it chooses to do so. Acitybusiness cannot receive exemption from school taxes or water management district taxes. Also a business must pay taxes that were voted by the voters of a or county to pay for bond issues and other special tax levies authorized by the voters of a city or county. The exemption be located canbeonlytaxed will still be forandthetaxes improvements to ontheit.real property and for tangible personal property. The land on which the new or expanding business is to must be paid The actioitsn taxes. exempt taken byAll aother city ortaxes county mustcommi ssion can only exempt the taxes paid to that governmental body. A city can only exempt its taxes; a county can only be paid. Statutory Definitions personal property at a fixed location and which 2. When citrus fruit is delivered by a comprises an industrial or manufacturing plant; or cooperative for a grower -member, by a grower - Section 196. 011 Annual application required 2. A business establishing 25 or more jobs to for exemption .— member to a cooperative, or by a grower - employ 25 or more full- time employees in this state, participant to a Florida processor, the sales factor 1)( a) Every person or organization who, on the sales factor of which, as defined by s. 220. 15( 5), for the growers for such citrus fruit delivered to January 1, has the legal title to real or personal for the facility with respect to which it requests an such processor shall be the same as the sales property, except inventory, which is entitled by law economic development ad valorem tax exemption is factor for the most recent taxable year of that to exemption from taxation as a result of its less than 0. 50 for each year the exemption is claimed; ownership and use shall, on or before March 1 of provided that such business increases operation on processor. That sales factor, expressed only as a percentage and not in terms of the dollar volume each year, file an application for exemption with a site colocated with a commercial or industrial of sales, so as to protect the confidentiality of the the county property appraiser, listing and operation owned by the same business, resulting in sales of the processor, shall be furnished on the describing the property for which exemption is a net increase in employment of not less than 10 request of such a grower promptly after it has claimed and certifying its ownership and use. The percent or an increase in productive output of not less been determined for that taxable year. Department of Revenue shall prescribe the forms than 10 percent. upon which the application is made. Failure to b) Any business located in an enterprise zone 3. Reimbursement of expenses under an make application, when required, on or before that increases operations on a site colocated with a agency contract between a cooperative, a grower - March 1 of any year shall constitute a waiver of member of a cooperative, or a grower and a commercial or industrial operation owned by the same business. processor is not a sale within this state. the exemption privilege for that year, except as provided in subsection ( 7) or subsection ( 8). c) Sales of a financial organization, including, Section 196. 1995 Economic development ad but not limited to, banking and savings institutions, valorem tax exemption. - Section 196.012(15) and (16), Florida Statutes investment companies, real estate investment 15) " New business" means: 6) With respect to a new business as defined trust, and brokerage companies, occur in this a) 1. A business establishing 10 or more jobs by s. 196.012( 15)(c), the municipality annexing the state if derived from: to employ 10 or more full-time employees in this property on which the business is situated may 1. Fees, commissions, or other compensation grant an economic development ad valorem tax for financial services rendered within this state; state, which manufactures, processes, compounds, exemption under this section to that business for a 2. Gross profits from trading in stocks, bonds, or fabricates, or produces for sale items of tangible period that will expire upon the expiration of the other securities managed within this state; personal property at a fixed location and which exemption granted by the county. If the county renews 3. Interest received within this state, other comprises an industrial or manufacturing plant; the exemption under subsection ( 7), the municipality than interest from loans secured by mortgages, 2. A business establishing 25 or more jobs to may also extend its exemption. A municipal employ 25 or more full- time employees in this deeds of trust, or other liens upon real or tangible economic development ad valorem tax exemption personal property located in this state, and state, the sales factor of which, as defined by granted under this subsection may not extend dividends received within this state; s. 220. 15( 5), for the facility with respect to which it beyond the duration of the county exemption. requests an economic development ad valorem 4. Interest charged to customers at places of tax exemption is less than 0. 50 for each year the Section 220. 15( 5), Florida Statutes. business maintained within this state for carrying exemption is claimed; or debit balances of margin accounts, without deduction 5) The sales factor is a fraction the numerator of which is the total sales of the taxpayer in this state of any costs incurred in carrying such accounts; 3. An office space in this state owned and 5. Interest, fees, commissions, or other charges used by a corporation newly domiciled in this state; during the taxable year or period and the denom- inator of which is the total sales of the taxpayer or gains from loans secured by mortgages, deeds of provided such office space houses 50 or more trust or other liens upon real or tangible personal full-time employees of such corporation;