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Revenue Outlook <br />• The tax roll increase provides additional funding for next fiscal year's budget in the amount of $18,814,562, <br />with the most significant revenue impacts detailed below: <br />• Half Cent Sales Tax is increasing by $727,728, or 5.4%. <br />• State Revenue Sharing is increasing by $581,364 or 13.5%. <br />• Optional Sales Tax is increasing by $4,750,000 or 21.6%. <br />• Gas taxes are increasing $156,700 or 2.5% collectively. <br />• Tourist Taxes are increasing by $540,000 or 15.0%. <br />• Impact Fees are decreasing by $1,017,400 or 12.9%. <br />Proposed Ad Valorem Tax Rates <br />Based on the preliminary rolls and recommended expenses, the proposed millage rates are as follows: <br />Comparison of Adopted Millage Rates to Proposed <br />Fund Description <br />FY 2022/23 <br />Adopted <br />Millage <br />FY 2023/24 <br />Proposed <br />Millage <br />$ Difference <br />% Difference <br />General Fund <br />3.5475 <br />3.5475 <br />0.0000 <br />0.00% <br />Subtotal Countywide Millage <br />3.5475 <br />3.5475 <br />0.0000 <br />0.00% <br />MSTU Fund <br />1.1506 <br />1.1506 <br />0.0000 <br />0.00% <br />Emergency Services District <br />2.3531 <br />2.3531 <br />0.0000 <br />0.00% <br />Aggregate Millage <br />6.1286 <br />6.1307 <br />0.0021 <br />0.01% <br />The FY 2023/24 proposed millage rates remain unchanged from the previous year's rates. The proposed <br />Aggregate Millage rate is increasing 0.0021 mills or 0.01% to 6.1307 mills. This specific rate is not paid by <br />any taxpayer, but is rather an average millage rate required to be shown for comparative purposes. <br />According to the Florida TaxWatch (2023 How Florida Counties Compare, May 2023), the average total <br />property tax millage rates for Indian River County (includes all jurisdictions and the School District) ranked <br />54th for FY 2022/2023 at 14.0775, with the statewide average at 16.5408. For growth in total property tax <br />levies, from FY 2007/2008 to FY 2022/2023, Indian River County ranked 51St at 21.7%. For the total <br />property tax levies per $1,000 of personal income for FY 2022/2023, Indian River County ranked 51" at <br />$22.07 per $1,000 of personal income. According to the Florida Department Revenue, for Fiscal Year <br />• 2022/2023 Indian River County's General Fund millage rate ranks as the 5" lowest in the state. <br />For illustrative purposes, the effect of the proposed millage rates on a home with an assessed value of <br />