NS. PETERSBURG, Florida (WFLA) – Residents of St. Petersburg will be voting on more than a dozen different elections and changes to the city charter on November 2nd. Among the 14 points is a proposal to extend a previously introduced new trade tax exemption.
On the ballot: change in the rights of the city of St. Petersburg declared
In 2011, St. Petersburg voters approved property tax exemption for companies that would expand to create new full-time jobs or new companies that city documents would add to do the same. The exemption was approved on a 10 year basis, under the provisions of Florida state law, and now it is time for voters to renew or reject it.
Authorizing the City Council to grant tax exemptions for the economic development of Ad Valorem
Should the City Council of St. Petersburg be empowered, according to s. 3, Art. VII of the State Constitution, property tax exemption for new businesses and expansions of existing businesses expected to create new full-time jobs in the city of St. Petersburg?
STIMMTEXT: Tax referendum, Ordinance No. 472-H
The tax is an ad valorem exemption, which means that it is a tax that is levied on the ascertained value of goods, services or real estate. The November 2 vote would either continue or end the ability of St. Petersburg City Council to approve such exemptions for businesses in or to St. Pete that would create local jobs.
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Should voters agree to the extension, companies bringing full-time jobs to St. Petersburg could be granted property tax exemptions from the city until the exemptions need to be renewed again in 2031.
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The post On the ballot: St. Petersburg should renew or reject the trade tax exemption first appeared on Daily Florida Press.from Daily Florida Press https://dailyfloridapress.com/on-the-ballot-st-petersburg-should-renew-or-reject-the-trade-tax-exemption/
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