|Published:||Dec 16, 2010 4:50 AM EST|
|Updated:||Dec 16, 2010 1:51 AM EST|
NAPLES, Fla. - Businesses on 5th Avenue South in Naples have been suffering with the addition of other dining and shopping districts, like Mercato. So what have the property owners decided to do? Tax themselves!
The idea was brought forward to the council by property and business owners two years ago. Wednesday, city council approved the property tax assessment.
The assessment equates to about $500 for every 1,000 square feet of space. The funds will be solely used on marketing and public relations for the area.
Many property owners are expected to pass the cost onto the tenants, which may be difficult for some businesses to pay.
Exactly how the money will be spent to market the area will be designated by a board made up of seven property and business owners from the 5th Avenue South area.
The first bills are expected to go out in the next 30 days.
RENEE STOLL, REPORTER
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