Clearwater Voters Approve Referendums

Clearwater voters gave their OK to changes to the city employee pension plan and to exempting some businesses from paying ad valorem taxes at the polls Tuesday.

Mayor George N. Cretekos called the passing of both referendums “fantastic.”

Modifications to the city’s pension plan could save the city $4.5 million the first year and more than $400 million over 30 years through pension benefit level reductions.

“It is going to have a significant impact on our budget, on our services and on our tax rate,” Cretekos said Tuesday night.

Clearwater voters gave overwhelming support to the referendum to allow the business tax exemptions, approving it with 56 percent of the vote.

Voting “yes” to create Economic Development Ad Valorem Tax Exemptions allows the city council to apply this reduction to property taxes to new businesses that would create at least 10 jobs and expansions of existing business. 

Cretekos said this should put the city on an equal playing field as other cities in the county have similar exemptions.

“We’re probably not going to use it but it levels the playing field. It puts us in the same position as other cities in the area,” Cretekos said. “One of the things we are focusing on now is economic development. Trying to bring better paying jobs to Clearwater and this may help.”

Related coverage:

• Clearwater Voters Decide Two Referendums on Election Day