Introduction. A new or expanding business may apply for an "economic exemption" for improvements to real property and/or tangible personal property not already on the Palm Beach County Tax Roll. The applicant must create and maintain the required number of new full time jobs. The business project must have a positive impact on the local economy of Palm Beach County. The requirements are identified below under program overview, criteria and Ordinance No. 2013-022.

Ordinance. The Board of County Commissioners (BCC) adopted Ordinance No. 2005-004 on February 15, 2005, and amended same through Ordinance No. 2012-042 on December 21, 2012, to establish an exemption from certain ad valorem taxation (County taxes only) for new and expanding business properties to encourage economic development in Palm Beach County. The current program remains in effect for a ten (10) year period until August 2014. Some but not all exemptions granted to businesses during that period will extend beyond August 2014.

Through a referendum approved by the voters of Palm Beach County on November 6, 2012 and authorized through adoption of Ordinance No. 2013-022 by the BCC on October 30, 2013, the program will renew on August 31, 2014 and continue through August 31, 2024.

Program Overview. A business granted an exemption for improvements to real and/or tangible personal property must have a positive economic impact on the County’s economy, including the creation and maintenance of new full time jobs. The program’s criteria requirements reduce the prospects that an exemption granted to a business will adversely impact other local businesses that provide similar products and/or services. The product sales of the facility for which the exemption is sought must exceed 50% outside Palm Beach County. Although a business may satisfy the minimum requirements to apply for an exemption, the type and location of the business, and the number, type and average annual salary of the new jobs, will be important considerations when the application is reviewed. Such factors will influence staff's recommendation to the Board on whether to grant an exemption and on the number of years to grant an exemption - from one (1) to ten (10) years. If the Board adopts an exemption ordinance, the business will also be required to enter into a separate agreement with the County to ensure that the business will satisfy its job creation and maintenance obligations.

Application Deadline & Fee. The only filing deadline each year is March 1st. The application fee is $2,000.00, which must be submitted to the County's Department of Housing and Economic Sustainability along with the completed application.

Program Criteria
Tax Exemption Annual Report Form
Tax Exemption Application
Tax Savings Estimates; Tax Roll Calendar; Timing of Assessments; and Renovation
Ordinance No. 2013-022
Ordinance No. 2012-042
Ordinance No. 2005-004
Ordinance Exhibit A: Application
Ordinance Exhibit B: Annual Report Form
Ordinance Exhibit C: Annual Renewal Exemption Application

 

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