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SJRWMD FY 2017-2018 Final Budget
<br />F. Adopted Millage Rate
<br />The property tax rate for FY 2017-18 is 0.2724 — 27.24 cents for every $1,000 of
<br />assessed property value. The millage rate is approximately 5.6 percent less than the FY
<br />2016-17 millage rate.
<br />Under the 0.2724 millage rate, the owner of a $200,000 house with a $50,000
<br />homestead exemption will be assessed $40.86 in property taxes, or a reduction of $2.42
<br />over the FY 2016-17 assessment. Figure 6 provides additional examples of the amount
<br />of ad valorem tax due to the District based on different property values.
<br />The FY 2017-18 adopted
<br />millage rate is the same as the
<br />estimated rolled -back rate of
<br />0.2724 and it represents less
<br />than half of the estimated
<br />majority vote maximum
<br />millage rate of 0.6180 in FY
<br />2017-18. It is worth noting
<br />that in order to reduce the
<br />burden of taxpayers, the
<br />District has adopted the rolled -
<br />back millage rate since FY
<br />2012-13. Table 4 below
<br />shows a three-year
<br />comparison of total ad
<br />valorem, millage rates, and
<br />total taxable values.
<br />What a typical District homeowner can expect to pay
<br />in 2018 for the water management district portion
<br />of their tax bili
<br />at 0.2724 mills ^_
<br />Assessed Assessed Assessed
<br />value...__.._m.._..._.$50,000 I value ---.—$200,000 I value._......_...._»_$500,000
<br />Homestead
<br />exemption —25,000
<br />Taxable
<br />value.._-..„___.__. $25,000
<br />Tax at 0.2724....-- $6.81
<br />Homestead
<br />exemption —50,000
<br />Taxable
<br />val ue..__._.._._._.$150,000
<br />Tax at 0.2724...„..$40.86
<br />Homestead
<br />exemption —50,000
<br />Taxable
<br />value ._._..._.-._-.-$450,000
<br />Tax at 0.2724.... $122.58
<br />Figure 6. Tax paid to the District by assessed property value
<br />Table 4. Three-year ad valorem tax comparison
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<br />DISTRICTWIDE
<br />Ad valorem
<br />Tax Comparison
<br />FY 2015-16
<br />(Adopted)
<br />FY 2016-17
<br />(Adopted)
<br />FY 2017-18
<br />(Adopted)
<br />Ad Valorem Taxes
<br />$ 82,837,740
<br />$
<br />84,069,456
<br />$ 85,347,445
<br />Mllage rate
<br />0.3023
<br />0.2885
<br />0.2724
<br />Rolled -back Rate
<br />0.3023
<br />0.2885
<br />0.2724
<br />Percent of Change of Rolled -back Rate
<br />0.0%
<br />0.0%
<br />0.0%
<br />Gross Taxable Value for Operating Purposes
<br />$ 283,963,669,204
<br />$
<br />301,970,908,342
<br />$ 324,680,425,753
<br />Net New Taxable Value
<br />$ 4,872,131,568
<br />$
<br />5,303,908,974
<br />$ 5,676,416,169
<br />Adjusted Taxable Value
<br />$ 279,091,537,636
<br />$
<br />296,666,999,368
<br />$ 319,004,009,584
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