Organizations urge Panama City voters to pass property tax exemption for new businesses

Nathan Cobb, The News Herald
·2 min read

PANAMA CITY − Local organizations are rallying together to see an upcoming referendum across the finish line.

With the 2023 municipal elections less than a month away, the Central Panhandle Association of Realtors and Bay County Chamber of Commerce are rallying with the Bay Economic Development Alliance in support of an upcoming Panama City referendum to allow property tax exemptions for select new and expanding businesses.

The referendum is slated to appear on Panama City ballots in the April 18 elections.

The Central Panhandle Association of Realtors and Bay County Chamber of Commerce are rallying in support of an upcoming Panama City referendum to allow property tax exemptions for select new and expanding businesses.
The Central Panhandle Association of Realtors and Bay County Chamber of Commerce are rallying in support of an upcoming Panama City referendum to allow property tax exemptions for select new and expanding businesses.

"The Panama City Economic Development Ad Valorem Property Tax Exemption program is a powerful incentive for businesses looking to invest and grow in our community," Carol Roberts, president of the Bay County Chamber, said in a news release from CPAR. "In asking our citizens to vote yes, we ask them to join us in our mission to build a better Bay County and Panama City."

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Panama City commissioners voted in January to add the referendum to decide whether the city should once again offer these exemptions. They were offered for about three decades before the 2021 municipal elections, when they were turned down by residents.

Officials have said they think the 2021 referendum was not approved because it got tied up with other ballot items and confused local voters.

The release says the same property tax exemptions are offered in unincorporated Bay County and Lynn Haven. It also says these breaks play a crucial role in helping the EDA attract international and domestic industries to the area, creating new jobs with competitive wages and helping the area rely less on tourism.

If the referendum is approved, tax breaks would be given only to select businesses that apply and qualify for them. Public hearings and additional ordinances also would be necessary before the breaks were granted.

Along with its public support, CPAR plans to launch a $25,000 campaign to encourage Panama City voters to approve the referendum. Voters will receive text messages, digital ads and mail supporting the exemptions leading up to the elections.

"We are excited to partner with the Bay County Chamber of Commerce and Bay EDA to support this program, which will bring new business opportunities and high-paying jobs to our community," Jennifer Ledesma, CPAR president, said in the release. "This program is a valuable tool in the toolbox of our EDA as they work to drive businesses from around the globe to our area."

This article originally appeared on The News Herald: Bay County organizations urge Panama City voters to pass tax exemption