Tampa City Business Property Tax Exemption Question (March 2011)

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A Tampa City Business Property Tax Exemption Question was on the March 1, 2011 ballot in the city of Tampa, which is in Hillsborough County.

This measure was approved

  • YES 25,909 (67.07%)Approveda
  • NO 12,721 (32.93%)[1]

This measure sought to encourage expanded business in the city by asking residents to allow the city to give property tax breaks to new or expanding businesses which come to the city. The city council will ultimately decide how much of a tax break a company would receive, but it could be up to 100 percent. The county already approved a similar measure, but this will add further benefits to the city with additional tax incentives.[2]

Early voting for this measure began on February 19 with voter registration ending on January 31.[3]

A noted downside to these potential exemptions was that the city already is strapped for cash and offering property tax exemptions would mean even less money going to the city government. Though the city is still hoping that with the county exemption added to the city, more businesses would be established.[4]

References