Why is the City supportive of the AVT abatement program?

Many cities offer incentives to new and existing businesses to encourage job creation and business expansion. The AVT abatement program better positions the City of Cocoa to remain competitive with other communities in securing new employment opportunities for its residents.

The AVT abatement program can be used to match State incentives, many of which require up to 20% in local match. Without the AVT abatement program, the City may not be able to reinforce a business's eligibility for State incentives, and would require the City to consider matching State incentives using general funds.

While it may seem like an easy decision for a business to locate to the City of Cocoa, incentives can sometimes be the deciding factor for whether a business remains in, or relocates to our community, and is often times the catalyst for success for a business during a period of growth.

Please call 321-433-8684 for more information.

Show All Answers

1. What is the purpose of the Ad Valorem Tax (AVT) Abatement program?
2. Who is eligible for AVT abatement?
3. Who grants AVT abatements?
4. Do AVT abatements involve cash transactions?
5. Do AVT abatements involve all taxes levied by the City of Cocoa?
6. Once abatement is granted, does it remain in place no matter what?
7. How does the City monitor whether a business is achieving the goals under the AVT abatement program?
8. Why is the City supportive of the AVT abatement program?