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Fiscal Year 2017/18 Budget Highlights <br />The total proposed budget is $327,646,370, a decrease of $18,766,301 or 5.42% from the current year. <br />It should be noted that this is an increase of $19,617,063 or 6.37% from the beginning budget of <br />$308,029,307 for the current year. However, this is still 30.65% below the approved FY 2006/07 amount <br />of $472,420,328. A detailed all fund expense summary is contained in the exhibits following this <br />message (pages 23 and 24). <br />The chart below shows continued recovery in the County tax roll, following a significant drop during the <br />"Great Recession". For FY 2017/18 the tax roll is increasing to $16.3 billion or 7.6% from last year, and is <br />consistent with more moderate increases experienced during the last three years. <br />$20.o <br />$15.0 <br />$10.0 <br />$5.0 <br />$0.0 <br />Indian River County Countywide Taxable Value <br />(billions) <br />(FY08 - FY18) <br />$17.8 $18.6 $17.4 <br />$15.8 $16.3 <br />$14.3 $15.2 <br />$12.7 $12.9 $13.4 <br />FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY 18 <br />Recommendations regarding proposed millage rates for fiscal year 2017/18 aresummarized below: <br />Overall, the countywide millage rate is increasing by 1.28%; this is reflective of the General Fund millage <br />rate increasing by 0.0657 mills or 1.96%, offset by a 5.98% reduction in the Land Acquisition Bond <br />millage. <br />The M.S.T.U. Fund millage rate of 1.0733 remains the same as the current year. The Emergency <br />Services District millage is increasing 2.80%, due primarily to the addition of fire rescue station and <br />replacement capital equipment. <br />4 <br />