Businesses promising to create high-paying jobs might be eligible for a break on their Hillsborough County tax bill after voters supported a ballot measure Tuesday.
With most precincts reporting, the tax exemption for businesses was passing handily. The exemption was the brainchild of Hillsborough County Commissioner Ken Hagan, who wanted another tool to attract high-paying industries.
Under the proposal, some companies moving to town or expanding could see their county property tax bill cut in half for five to 10 years. The county commission could even cut a business's tax bill to zero under extraordinary circumstances, such as if the business promised a great number of jobs. Only businesses in high-paying industries would qualify, such as life sciences, biotechnology, manufacturing, financial services and the maritime industry.
Generally, the more jobs a company creates, the better the incentives. Hillsborough County voters also
supported a measure that would rename and refocus the duties of the county's internal auditor. Commissioners sought the changes in hopes of eliminating the controversy and political infighting that have plagued the office since it was approved by voters eight years ago. The county's charter review commission put the measures on the ballot after an attempt to eliminate the office entirely failed to garner the necessary support.
In a third ballot issue,
county voters rejected a measure that would eliminate the veto power of a county mayor. Voters previously had approved giving a county mayor veto power over the county commission if the position were created. However, the issue became moot when supporters failed to get enough signatures to put the county mayor system on Tuesday's ballot.
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