In 2004, Okaloosa County voters approved a tax exemption for businesses, called the Economic Development Ad Valoreum Tax Exemption or EDATE. The property tax break is given to new businesses and expansion of existing businesses that create new, full-time jobs in the county. The EDATE was extended once in 2014. In the past 10 years, 12 businesses have been approved to use the incentive and the county has paid out approximately $75,000, according to the Mid Bay News.
What the Amendment says:
In order to create new jobs, shall the board of County Commissioners of Okaloosa County be authorized to grant, pursuant to s.3, Art.VII of the State Constitution, temporary economic development property tax exemptions to new businesses and expansions of existing businesses that will create new, full-time jobs in the country?
What that means:
This is a renewal of a tax exemption that would allow companies with real estate they use for business in Okaloosa County to receive a tax exemption if they meet certain exemptions such as paying higher-than-average wages to employees.
Supporters:
Okaloosa County Economic Development Corporation.
Supporters Argue:
- Nathan Sparks, director of the Okaloosa County Economic Development Corporation, says the exemption allows businesses to expand in Okaloosa County.
Opponents:
Okaloosa County Commissioner Nathan Boyles
Opponents Argue:
- Boyles says the tax break doesn't attract new businesses that would not otherwise set up in Okaloosa County, that it takes away from county employees' time, and disproportionately benefits larger businesses from out of town instead of smaller companies.
A 'Yes' vote would:
Extend the tax break for 10 more years.
A 'No' vote would:
End the tax break.
Find the rest of the amendment explainers here.
