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Comprehensive Plan Capital Improvements Element
<br />Table 6.9: Indian River County Tax Base and Millage Projections
<br />Fiscal
<br />Year
<br />General Fund
<br />M.S.T.U.
<br />Emergency Services District
<br />Tax Base
<br />Millage
<br />Tax Base
<br />Millage
<br />Tax Base
<br />Millage
<br />2021/22
<br />$20,577,735,527
<br />3.5475
<br />$11,392,230,024
<br />1.1506
<br />$16,948,332,872
<br />2.3531
<br />2022/23
<br />$21,195,067,593
<br />3.5475
<br />$11,733,996,925
<br />1.1506
<br />$17,456,782,858
<br />2.3531
<br />2023/24
<br />$21,830,919,621
<br />3.5475
<br />$12,086,016,833
<br />1.1506
<br />$17,980,486,344
<br />2.3531
<br />2024/25
<br />$22,485,847,210
<br />$23,160,422,626
<br />3.5475
<br />3.5475
<br />$12,448,597,338
<br />$12,822,055,258
<br />1.1506
<br />1.1506
<br />$18,519,900,934
<br />$19,075,497,962
<br />2.3531
<br />2.3531
<br />LHE�
<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 />Overall, County revenue sources except "Other Sources" are expected to increase at a total rate of
<br />10.38% from 2021/22 through Fiscal Year 2025/26 and all County revenue sources except for
<br />Judgements, Fines & Forfeitures are projected to be above what was previously forecasted in the prior
<br />year's Capital Improvements Program. With respect to the "Other Sources" funds, the decreasing
<br />yearly amount is due to uncertainty in grant funds, as that funding source is dependent on a number of
<br />factors including but not limited to economic conditions, and the competitiveness of grant
<br />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 />capital improvements element.
<br />Community Development Department
<br />Adopted December _ 2021, Ordinance 2021-_
<br />Indian River County
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