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Comprehensive Plan Capital Improvements Element
<br />Table 6.9: Indian River County Tar Base and Millage ProjCeti oils
<br />Fiscal
<br />General Fund
<br />M.S.'f .U.
<br />Fmer,ency Services District
<br />Year
<br />Tax Base
<br />Millage
<br />Tax Base
<br />Millage
<br />Tax Base
<br />Millaue
<br />2020/21
<br />$19,554,311,003
<br />3.5475
<br />$10,850,206,261
<br />1.1506
<br />$16,067,904,609
<br />2.3531
<br />2021/22
<br />$20,140,940,333
<br />3.5475
<br />$11,175,712,449
<br />1.1506
<br />$16,549,941,747
<br />2.3531
<br />2022/23
<br />$20,745;168,543
<br />3.5475
<br />$11,510,983,822
<br />1.1506
<br />$17,046,439,999
<br />2.3531
<br />2023/24
<br />$21,367,523,599
<br />$22,008,549,307
<br />3.5475
<br />3.5475
<br />$11,856,313,337
<br />$12;212,002,737
<br />1.1506
<br />1.1506
<br />$17,557,833,199
<br />$18,084,568,195
<br />2.3531
<br />2.3531
<br />2024/25
<br />Source; lnatan Ktver{Aunty unice or 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 />Chanes to the Capital Improvements Program
<br />Overall, County revenue sources except "Other Sources" are expected to increase at a total rate of
<br />10.38% from 2020/21 through Fiscal Year 2024/25 and all County revenue sources except for
<br />Judgements, Fines & Forfeitures are projected to be above what was previously forecasted in the
<br />prior year's Capital Improvements Program. With respect to the "Other Sources" funds, the
<br />decreasing yearly amount is due to uncertainty in grant funds, as that funding source is dependent on
<br />a number of factors including but not limited to economic conditions, and the competitiveness of
<br />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 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 December 1` 2020, Ordinance 2020-018 30
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