BAY COUNTY, Fla. (WMBB) — Bay County voters will have the chance to vote in November yet again on whether to renew ad valorem tax exemptions for businesses.
County leaders said the exemptions are given to new and growing businesses who prove that they are creating jobs in the area, helping the local economy.
Bay EDA president Becca Hardin said at Tuesday’s Bay County commission meeting that the exemption is a tool they use to attract new businesses to the area and help keep them here. She said the tax exemption policy is especially important now that one of the biggest statewide business incentives, the Qualified Target Industry (QTI) tax refund sunsetted this year.
“We’re kind of at a disadvantage, we don’t have full allocation of dollars that other states have,” said Bay County commissioner, Robert Carroll. “We need to make sure that we keep this program so we can keep attracting businesses and industry to come to Bay County.”
The policy has been voted on every ten years since 1980, with voters approving it every time.