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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 />2017/18
<br />$17,369,356,650
<br />3.4604
<br />$9,585,018,162
<br />1.0733
<br />$14,262,147,851
<br />2.3655
<br />$17;369,356,650
<br />0.2827
<br />2018/19
<br />$18,064,130,916
<br />3.4604
<br />$9,968,418,888
<br />1.0733
<br />$14,832,633,765
<br />2.3655
<br />$18,064,130,916
<br />0.2714
<br />2019/20
<br />$18,786,696,153
<br />3.4604
<br />$10,367,155,644
<br />1.0733
<br />$15,425,939,116
<br />2.3655
<br />$18,786,696,153
<br />0.2605
<br />2020/21
<br />$19,538,163,999
<br />3.4604
<br />$10,781,841,870
<br />1.0733
<br />$16,042,976,681
<br />2.3655
<br />$19,538,163,999
<br />0.2501
<br />2021/22
<br />$20,319,690,559
<br />3.4604
<br />$11,213,115,545
<br />1.0733
<br />$16,684,695,748
<br />2.3655
<br />$20,319,690,559
<br />0.2401
<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 Program
<br />All County revenue sources except "Other Sources" are expected to increase at a rate of 2.5% through
<br />Fiscal Year 2022/23 and all County revenue sources except for Judgements, Fines & Forfeitures are
<br />projected to be above what was previously forecasted in the prior year's Capital Improvements
<br />Program. With respect to the "Other Sources" funds, the decreasing yearly amount is due to
<br />uncertainty in grant funds, as that funding source is dependent on a number of factors including but
<br />not limited to economic conditions, and the competitiveness of grant applications.
<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 increased revenue from assessments and user fees, gas taxes, various impact fees,
<br />and developer funded construction projects due to projected increased development activity and
<br />continually improving market conditions. While some project time frames have been extended, none
<br />of the extensions will impact development project concurrency reservations.
<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 maybe 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 />Community Development Department Indian River County
<br />Adopted December 4, 2018, Ordinance 2018-025 31
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