unofficial informal briefing minutes tuesday, june …...2015/06/16 · 2015 estimated digest...
TRANSCRIPT
Unofficial Informal Briefing Minutes
Tuesday, June 16, 2015 - 10:30 AM Present: Charlotte J. Nash, Jace Brooks, Lynette Howard, Tommy Hunter, John Heard
1. Financial Services Digest Review and 2015 Proposed Millage Rate
Chief Financial Officer and Financial Services Director Maria Woods and Steve Pruitt, Tax Assessor's Office Division Director, presented an update on the Property Tax Digest and information on the Millage Rate. No Official Action Taken.
FINANCIALSERVICES
Property Tax Digest Update and Millage Rate Briefing
Board of CommissionersJune 16, 2015
Digest Forecasts Updated
Digest Forecasts Updated
What’s Happened to Date…
Preliminary Digest Established for 2015 Budget
2015 Budget Adopted based on Digest and Millage Rate Assumptions
Property Values Updated
Assessment Notices Mailed
Deadline for Appeals
2015 Estimated Digest Update for Millage Rate Adoption
May 18, 2015
June 2015
April 4,2015
April 2015
Jan 2015
Sept 2014
Countywide Net Digestmillions
Forecast
• Click to edit Master text styles– Second level
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Motor Vehicle Digest Forecastmillions
Forecast
Number of Notices withUpdated Values
Parcels
Digest Level of AssessmentReal Property
6
State’s allowable assessment
ratio
Allowable assessment
ratio for Utility Billing
6
Real Property Tax Appeals
7
Sen
ate
Bill
34
6 im
ple
men
ted
Total Real Property Value Changes and Appeals
8
Parcels
Sen
ate
Bill
34
6 im
ple
men
ted
2015 Real Property Tax Digest
• Mailed 273,000 assessment notices
• 9,279 appeals
• Net Expected Value Update $596.3
• Net Expected New Growth $310.0
9
FY 2015 Budget assumption: New Growth ‐ $300.0
In summary…
Digest to Property Tax Revenue
10
Property Tax Digest
Millage Rate
Roll Up
Roll Back
Revenue
Budget
Digest to Property Tax Revenue
12
2015 Property Tax Digest
7.23
Roll Up
.17
2015 Revenue
Budget
Countywide – General Fund
2014 Millage Rate 7.402014 Final $189,007,531
Net New Growth 7.23 $2,241,300MV Revenues ($4,393,589)
2015 Est Revenues Rollback(No Conservation) $186,855,242
2015 Budget w Conservation $175,363,226
2015 Revenues w Conservation $175,793,412
Difference $430,186
Net Value Update $4,412,250
Recreation District
Millage Rate 0.952014 Final $24,740,071
Net New Growth $300,272
MV Revenues ($564,042)2015 Estimated Revenues
(No Conservation) $24,476,301
2015 Budget w Conservation $23,999,063
2015 Revenues w Conservation $23,027,305
Difference ($971,759)
Net Value Update $577,540
G.O. Bond Debt
Millage Rate 0.242014 Final $6,531,915
Net New Growth $79,278
MV Revenues ($142,495)2015 Estimated Revenues
(No Conservation) $6,468,698
2015 Budget w Conservation $5,886,609
2015 Revenues w Conservation $6,085,752
Difference $199,142
Net Value Update $152,483
Fire and EMS Service District
Millage Rate 3.202014 Final $81,453,829
Net New Growth $988,612MV Revenues ($1,893,441)
2015 Estimated Revenues (No Conservation) $80,549,000
2015 Budget w Conservation $76,078,4692015 Revenues w Conservation $75,780,499
Difference ($297,969)
Net Value Update $1,901,483
Police Service District
Millage Rate 1.602014 Final $33,359,908
Net New Growth $404,892MV Revenues ($775,470)
2015 Estimated Revenues (No Conservation) $32,989,330
2015 Budget w Conservation $30,975,0612015 Revenues w Conservation $31,036,362
Difference $61,301
Net Value Update $778,764
Development and Enforcement Service District
Millage Rate 0.362014 Final $6,250,609
Net New Growth $75,864
MV Revenues ($145,299)2015 Estimated Revenues
(No Conservation) $6,181,174
2015 Budget w Conservation $5,815,9282015 Revenues w Conservation $5,815,249
Difference ($679)
Net Value Update $145,916
Millage Rate Adoption Requirements
Perform computation of millage rate rollback
Publish five year history and current digest
Inflationary digest increases (positive value updates) can be offset by a reduction (rollback) of the millage rate
State law considers inflationary digest increases without offsetting millage rate reductions to be tax increases and therefore requires public notice for Maintenance and Operations only
The annual millage rate must be adopted by the local levying authority
19
FINANCIALSERVICES Questions