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Comprehensive Plan Capital Improvements Element
<br />Table 6.9: Indian River County Tax Base and Millage Projections
<br />Fiscal
<br />General Fund
<br />M. S.T.U.
<br />Emergency Services District
<br />Environmental Land
<br />Acquisition
<br />Year
<br />Tax Base
<br />Millage
<br />Tax Base
<br />Millage
<br />Tax Base
<br />Millage
<br />Tax Base
<br />Millage
<br />2016/17
<br />$15,182,423,493
<br />3.3602
<br />$8,385,401,352
<br />1.0733
<br />$12,417,355,507
<br />2.3010
<br />$15,182,423,493
<br />0.3143
<br />2017/18
<br />$15,789,720,433
<br />3.3602
<br />$8,720,817,406
<br />1.0733
<br />$12,914,049,727
<br />2.3010
<br />$15,789,720,433
<br />0.3017
<br />2018/19
<br />$16,421,309,250
<br />3.3602
<br />$9,069,650,102
<br />1.0733
<br />$13,430,611,716
<br />2.3010
<br />$16,421,309,250
<br />0.2897
<br />2019/20
<br />$17,078,161,620
<br />3.3602
<br />$9,432,436,106
<br />1.0733
<br />$13,967,836,185
<br />2.3010
<br />$17,078,161,620
<br />0.2781
<br />2020/21
<br />$17,761,288,085
<br />3.3602
<br />$9,809,733,550
<br />1.0733
<br />$14,526,549,632
<br />2.3010
<br />$17,761,288,085
<br />0.2669
<br />Source: Indian River County Office of Management and Budget.
<br />As shown in table 6.9, the county has a Municipal Service Taxing Unit (MSTU) and an emergency
<br />services district, each with a separate millage.
<br />Changes to the Capital Improvements Prouam
<br />With the gradual improving economy, County revenue increased in Fiscal Year 2015/16. For all
<br />funding sources, except "other sources", County revenue is expected to continue to slowly increase
<br />through Fiscal Year 2020/21 above what was previously forecasted in the prior year's Capital
<br />Improvements Program.
<br />With this year's update, some projects have had their timeframes extended and some have had their
<br />funding sources changed as priorities have shifted, and projects previously underfunded have been
<br />designated to receive additional projected funding from sources that have become available. This
<br />includes projected revenue from the recent renewal of the one -cent local option sales tax and
<br />projected increased revenue from assessments and user fees, gas taxes, various impact fees, developer
<br />funded construction projects and the Florida Department of Transportation due to projected increased
<br />development activity and continually improving market conditions.. While some project time frames
<br />have been extended, none of the extensions will impact development project concurrency
<br />reservations.
<br />With respect to transportation projects, available roadway capacity has recently increased because
<br />concurrency certificates for some development projects with vested trips have expired. These trips are
<br />now reflected as available in the County's concurrency management system.
<br />By extending the timeframe of transportation projects, the County can utilize its limited resources to
<br />complete priority concurrency related projects within the overall capital improvements program. In
<br />effect, the County needs to delay some projects so that other projects will remain fundable and so that
<br />additional priority projects may be funded. By funding necessary projects and other priority projects,
<br />and by extending the time frames for other projects, the County is maintaining a financially feasible
<br />capital improvements element.
<br />Community Development Department Indian River County
<br />Adopted , 2016, Ordinance 2016- 30
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