§ 29-83. Scope and terms of exemptions.

(a)

If a business qualifies as a "new" or "expanding" business such exemption will be fifty (50) percent of the assessed value of all improvements to real property made by or for the use of a new business and all tangible personal property of such new business, or fifty (50) percent of the assessed value of all added improvements to real property which improvements are made to facilitate the expansion of an existing business and fifty (50) percent of the net increase in all tangible personal property acquired to facilitate such expansion of an existing business.

If twenty (20) percent or more of a business' permanent full-time employees are residents of enterprise zones, such exemption will be one hundred (100) percent of the assessed value of all improvements to real property made by or for the use of a new business and all tangible personal property of such new business, or one hundred (100) percent of the assessed value of all added improvements to real property which improvements are made to facilitate the expansion of an existing business and of the net increase in all tangible personal property acquired to facilitate such expansion of an existing business. Property acquired to replace existing property shall not be considered to facilitate a business expansion.

(b)

The exemption shall apply only to Miami-Dade County Countywide operating and unincorporated municipal service area millages and shall not apply to taxes levied for payment of bonds or to taxes authorized by a vote of the electors pursuant to Section 9(b) or Section 12, Article VII of the State Constitution.

(c)

Subject to the renewal provisions contained herein, an exemption granted pursuant to this article may remain in effect for up to five (5) years with respect to that particular facility, regardless of any change in the authority of the Board of County Commissioners to grant such exemptions. The exemption shall not be prolonged or extended by granting exemption from additional taxes or by virtue of any reorganization or sale of the business receiving the exemption.

(d)

The granting of this exemption and the length of the period for which the exemption shall be granted shall be at the discretion of the Board of County Commissioners, who shall make this determination on the basis of the factors outlined in the following section.

(Ord. No. 88-27, § 3, 4-19-88; Ord. No. 96-74, § 2, 5-21-96; Ord. No. 06-68, § 3, 5-9-06)