Pinellas Park adopts tiered ad valorem tax exemption to attract new investment
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Summary
Pinellas Park City Council unanimously adopted Ordinance 2025-45 on Dec. 11, replacing a flat 75% ad valorem exemption with a point-scored, four-tier system that ties exemption level and duration to investment, wages and job creation; the program sunsets in 2034.
Pinellas Park City Council unanimously adopted Ordinance 2025-45 on Dec. 11, revising the city's economic development ad valorem tax exemption to a tiered incentive system designed to target new investment and job creation.
Community Services Manager Lizzie St. Pierre told the council the change replaces the prior flat 75% exemption with four tiers tied to capital investment, wage levels and the number of new full‑time jobs. "The proposed changes of this program is to update the exemption from a blanket 75% for up to 10 years to a new tiered system," she said. Under the ordinance, tier 1 provides a 50% exemption for up to five years; tier 2 offers 75% for up to seven years; tier 3 provides 85% for up to 10 years; and tier 4 allows a 100% exemption for up to 10 years.
Eligibility remains limited to businesses that create new jobs and meet local targets. St. Pierre said qualifying companies must create at least 10 new full‑time positions at wages above the area median (about $64,000 as presented) and operate in one of the city's target sectors — including life sciences, information technology, defense and homeland security, finance, aviation/aerospace and advanced manufacturing. The ordinance maintains that existing assessed value is excluded from exemptions and establishes an application and resolution process for council consideration, with no application fee and a council revocation provision. The program is set to sunset March 19, 2034.
Councilor Buscovell moved to pass the ordinance on second and final reading; the motion was seconded and "carried unanimously," according to the record. The final vote tally and individual votes were not specified in the transcript.
The change is intended to make incentive awards more closely tied to measurable local benefits — capital investment, higher wages and job counts — rather than a single blanket percentage. The council did not record further amendments during the meeting.
The ordinance will be incorporated into the city's Code of Ordinances as described in the adopted text and becomes effective as provided in the ordinance language.
