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ECONOMIC DEVELOPMENT AD VALOR EM TAX EXEMPTION APPLICATION FOR USE BY APPLICANTS APPLYING IN THE CITY OF NORTH PORT, CITY OF SARASOTA, CITY OF VENICE AND UNINCORPORATED SARASOTA COUNTY File two originals

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What is economic development ad valorem?

Economic development ad valorem is a tax based on the value of real estate property that is used to fund economic development initiatives.

Who is required to file economic development ad valorem?

Property owners and businesses in designated economic development areas are required to file economic development ad valorem.

How to fill out economic development ad valorem?

To fill out economic development ad valorem, property owners and businesses must provide information about the value of their real estate property and the economic development projects they are funding.

What is the purpose of economic development ad valorem?

The purpose of economic development ad valorem is to generate revenue for economic development initiatives that stimulate growth and create jobs in a specific area.

What information must be reported on economic development ad valorem?

Information such as the value of the real estate property, the purpose of the economic development initiatives being funded, and any related financial information must be reported on economic development ad valorem.

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