Do AVT abatements involve cash transactions?

No. As the name implies, AVT abatement involves an annual reduction of certain property taxes for a period of time not to exceed 10 years. The abatement is not applied until at least 1 year after it is granted, and only after the company has submitted the required annual report to the City of Cocoa certifying it has met required milestones. Please call 321-433-8684 for more information.

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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?