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$318,7801l1 and a homestead exemption of $50,000 is shown in the following table. <br />Tvoical House Comparison - Proposed vs. Current with 3.0% CPI Increase & $50,000 Homestead Exemption <br />Proposed Millage <br />Compared to Current <br />FY 2022/23 <br />Adopted Millage <br />FY 2023/24 <br />Proposed Millage <br />$ Inc/(Dec) <br />% Inc/(Dec) <br />Taxable Value <br />$268,780 <br />$278,343 <br />$9,563 <br />3.56% <br />General Fund <br />$953.50 <br />$987.42 <br />$33.92 <br />3.56% <br />Subtotal - Indian River Shores <br />$953.50 <br />$987.42 <br />$33.92 <br />3.56% <br />Emergency Services District <br />$632.47 <br />$654.97 <br />$22.50 <br />3.56% <br />Subtotal -All Other Incorporated Areas <br />$1,585.97 <br />$1,642.39 <br />$56.42 <br />3.56% <br />M.S.T.U. Fund <br />$309.26 <br />$320.26 <br />1 $11.00 <br />3.56% <br />Total - Unincorporated Area <br />$1,895.23 <br />$1,962.65 <br />$67.42 <br />3.56% <br />"J Based on the average assessed value of all homestead properties in Indian River County as of June 2023. <br />General Fund <br />The proposed General Fund budget is $132,409,629, an increase of $1,934,300 or 1.5%. Specific <br />departmental, Constitutional, and agency budget summaries are contained in the exhibits following this <br />message (pages 22-24). Major factors impacting the General Fund budget are presented below: <br />• Ad valorem tax roll increase- 13.8%, $10,848,576 in additional revenue, assuming 95% collections <br />at same millage rate. <br />• Millage rate - 3.5475, no change from last fiscal year. <br />.7 <br />• Constitutional Officers increases - $6,547,589 or 8.6%. <br />• State Mandates/Constitutional Officers - constitute 73.1% of the total General Fund budget. • <br />• Children's Services Funding - increase of $329,777 or 13.5%; 0.125 mill funding. <br />• State -Mandated Retirement Rate Impact - increase of $2,297,209 or 22.6% (including <br />Constitutionals). <br />• 6.45 Net FT Positions - 8 FT BCC positions for $946,913, and -1.55 FT Constitutionals. <br />The following graph illustrates the breakdown of expenditures by agency in the General Fund, of which the <br />Board of County Commissioners comprises 20.3% and our Constitutional Offices 62.6%. The Sheriff's Office <br />budget alone comprises 54.4% of the General Fund. <br />Constitutions <br />General Fund Expenses by Category <br />FY 2023/24 <br />9 <br />BCC, 20.3% <br />Reserves & Transfers, <br />9.1% <br />Economic <br />Development & <br />CRA's, 0.4% <br />Children's Svcs, 2.1% • <br />Non Profits, 1.6% <br />State Agencies, 3.9% <br />