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Revenue Outlook The taxrolI increase provides additional funding for next fiscal year's budget in the amount of $16,313,278. The most significant revenue impacts are detailed below: • Half Cent Sales Tax is increasing by $1,698,144, or 14.5% • State Revenue Sharing is increasing by $625,107 or 17.0% • Optional Sales Tax is increasing by $1,900,000 or 9.5% • Gas taxes are increasing $469,117 or 8.1% collectively • Tourist Taxes are increasing by $850,000 or 30.9% • Impact Fees are increasing by $663,400 or 9.2% Proposed Ad Valorem Tax Rates Based on the preliminary rolls and recommended expenses, the proposed millage rates are as follows: Comparison of Adopted Millage Rates to Proposed Fund Description FY 2021/22 Adopted Millage FY 2022/23 Proposed Millage Difference % Difference General Fund 3.5475 3.5475 0.0000 0.00% Subtotal Countywide Millage 3.5475 3.5475 0.0000 0.00% MSTU Fund 1.1506 1.1506 0.0000 0.00° Emergency Services District 2.3531 2.3531 0.0000 0.00% Aggregate Millage 6.1226 6.1286 0.0060 0.01% The FY 2022/23 proposed millage rates remain unchanged from the previous year's rates. The proposed Aggregate Millage rate is increasing 0.0060 mills or 0.01% to 6.1286 mills. This specific rate is not paid by any taxpayer, but is rather an average millage rate required to be shown for comparison purposes. For illustrative purposes, the effect of the preceding proposed rates on a home with an assessed value of $274,333(2) and a homestead exemption of $50,000 is shown in the following table. Typical House Comparison - Proposed vs. Current with 3.0% CPI Increase 0 Proposed Millage Compared to Current FY 2021/22 Adopted Millage FY 2022/23 Proposed Millage Increase (Decrease) % Increase (Decrease) Taxable Value $216,343 $224,333 $7,990 3.69% General Fund $767.48 $795.82 $28.34 3.69% Subtotal - Indian River Shores $767.48 $795.82 $28.34 3.69% Emergency Services District $509.08 $527.88 $18.80 3.69% Subtotal -All Other Incorporated Areas $1,276.56 $1,323.70 $47.14 3.69% M.S.T.U. Fund $248.92 $258.12 $9.20 3.69% Total - Unincorporated Area $1,525.48 $1,581.82 $56.34 3.69% (2) Based on the average assessed value of all homestead properties in Indian River County as of June 2022.