By Logan Neill, Times Staff Writer
Tuesday, August 24, 2010
BROOKSVILLE — Brooksville voters Tuesday gave the go-ahead to keep a 10-year-old pro-business development tax abatement intact. About 63 percent of the total votes cast were in favor of the measure.
The decision will allow new and expanding businesses to receive as much as a 10-year pass on up to 100 percent of the taxes generated by increased valuation of a property or improvements made to the edifice.
Dennis Wilfong, the city's volunteer economic development ambassador, said the incentives will continue to give the city a competitive edge in attracting commerce, while encouraging businesses to stay.
"It's fantastic," said Wilfong. "It will help keep the ball rolling in Brooksville. It sends a signal that the city is serious and wants new businesses and is setting a good standard for that to happen."
Under the measure businesses that meet the guidelines would be eligible for the tax breaks. Existing businesses that expand could also receive a tax break, provided the following criteria are met:
Logan Neill can be reached at (352) 848-1435 or lneill@sptimes.com.