Southtowne, a 258-unit apartment complex built by Studer properties in downtown Pensacola, received an economic development exemption, known as an EDATE, from the city and county.
The city’s and county’s ad valorem revenues were cut in half from what previous owner, the Pensacola News Journal, paid – about $10,000 less annually.
The owners of the apartments paid over the last two years, 2020 and 2019, twice what the daily newspaper paid from 2008-2013 for 101 E. Romana Street.
In 10 years, Southtowne will have paid more taxes than the PNJ did in six decades for site that housed the newspaper’s headquarters and printing operation.
Taxes Paid to Escambia County Tax Collector
2020 $395,716.47
2019 $365,600.39
Total $761,316.86
2013 $54,744.90
2012 $55,800.42
2011 $58,008.45
2010 $59,439.56
2009 $64,079.75
2008 $71,445.53
Total $363,518.61
Local Public Education and the Downtown Improvement Board saw their collections increase five times over the last two years versus the last six years the PNJ had the site.
Local
Education
2020 $100,101.72
2019 $94,017.57
Total $194,119.29
2013 $5,770.13
2012 $5,895.16
2011 $6,122.32
2010 $6,211.07
2009 $6,732.83
2008 $8,240.71
Total $38,972.22
Downtown Improvement
2020 $95,380.39
2019 $89,079.83
Total $184,460.22
2013 $5,133.57
2012 $5,244.80
2011 $5,446.91
2010 $5,572.97
2009 $5,990.06
2008 $6,771.33
Total $34,159.64