FOR IMMEDIATE RELEASE: September 20, 2012
Office of Public Information
Economic Development Property Tax Exemptions for New Businesses and Expansions of Existing Businesses Will Be On The November 6, 2012 General Election Ballot
Crawfordville, Florida – The Wakulla County Board of County Commissioners approved placing a referendum on the November 6, 2012 General Election Ballot to allow the citizens of Wakulla County to vote for or against a economic development property tax exemption for new businesses and expansions of existing businesses.
The purpose of this property tax exemption program is to encourage the establishment of new businesses in Wakulla and for our existing businesses to expand and create new jobs in the County. Once established, the program authorizes the County to grant qualifying businesses an ad valorem tax exemption on real property improvements and tangible personal property of up to 100% for up to 10 years.
“Economic Development continues to be a priority and this is another way for us to attract industries to open their doors here, it will help our current businesses grow, and will provide job opportunities for our citizens”, commented Commissioner Mike Stewart. This program does not change any tax liabilities except for property owners who are exempted under the program. Additionally, it is anticipated to generate new tax revenue that will be added to the tax base from the improvements and tangible personal property after the exemption period.
It’s important for the citizens to know that this program is subject to the approval of a majority vote at the November 6, 2012 General Election. Therefore, all County citizens are encouraged to get out and vote on November 6, 2012.
To learn more about this program and eligibility criteria please visit the County website (www.mywakulla.com) or contact the County Administration Office at 926-0919.
Public Information Director
Wakulla County BOCC
(850) 926-0919 Ext. 407
(850) 926-0940 (Fax)