Public Hearing
for the
Adoption of the Fiscal Year
2015-16 Final Millage Rates and
Final Budget
Note - This presentation and other budget documents are available on the District’s website
1
Taxable
Value
Proposed
Millage
Amount to be
Raised @ 100%
Amount to be
Raised @ 96%
$18,176,136,407
5.035
$91,516,847
$87,856,173
$18,176,136,407
.748
$13,595,750
$13,051,920
$18,176,136,407
1.500
$27,264,205
$26,173,636
Totals
7.283
$132,376,801
$127,081,729
2
 Proposed Millages and the effect on an average homeowner
FY 2015
Total Millage
FY 2016
Change
7.241
7.283
.042
Average Assessed
Value
$108,000
$120,000
$12,000
Less Homestead
Exemption
($25,000)
($25,000)
($0)
Net Assessed Value
$83,000
$95,000
$12,000
Annual Taxes
$601.00
$691.89
$90.88
3
7.922
8.313
7.283
7.241
7.257
7.771
7.878
8.177
7.976
7.685
7.490
6.000
8.583
6.500
7.737
7.000
8.809
9.000
8.500
8.000
7.500
5.500
5.000
Total Millage
4
5.500
5.922
6.313
Operating Millage
1.500
1.500
1.500
5.741
5.783
1.500
1.500
1.500
1.500
1.750
2.000
5.757
6.271
6.378
6.677
6.476
5.935
6.500
2.000
2.000
2.000
2.000
7.000
5.490
5.000
6.583
7.500
5.737
6.000
2.000
8.000
6.809
9.000
8.500
Capital Millage
5
5.500
Operating Millage
Capital Millage
1.500
1.500
1.500
5.741
5.783
1.500
1.500
1.500
1.500
1.750
5.757
6.271
6.378
6.677
6.476
5.935
2.000
2.000
2.000
2.000
2.000
6.500
5.737
5.922
6.313
7.000
5.490
5.000
6.583
7.500
7.283
0.5
6.000
2.000
8.000
6.809
9.000
8.809
8.500
7.533
Restore 2-Mil
6
 Proposed Millages and the effect on an average homeowner
FY 2015
Total Millage
FY 2016
Change
7.241
7.283
.042
Average Assessed
Value
$108,000
$120,000
$12,000
Less Homestead
Exemption
($25,000)
($25,000)
($0)
Net Assessed Value
$83,000
$95,000
$12,000
Annual Taxes
$601.00
$691.89
$90.88
7
St. Lucie County’s Taxable Value History
$27,000,000,000 $25,769,119,327
$25,000,000,000
$23,268,900,948
$23,000,000,000
$21,000,000,000
$18,176,136,407
$19,000,000,000
$17,187,371,996
$18,661,622,349
$17,000,000,000
$15,970,915,148
$16,712,045,010
$15,000,000,000
$16,611,213,554
$15,776,513,670
2007-08
2008-09
2009-10
2010-11
2012-13
2013-14
2014-15
2015-16
2011-12
8
St. Lucie County’s Tax Collection History
$190,000,000 $184,756,181
$180,000,000
$170,679,938
$170,000,000
$160,000,000
$150,000,000
$140,000,000
$142,882,557
$127,412,810
$130,000,000
$131,868,047
$120,000,000
$120,510,423
$118,438,327
$110,000,000
2007-08
2008-09
2009-10
2010-11
2012-13
2013-14
2014-15
2015-16
$120,677,410
$117,550,070
2011-12
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Year
Tax Collections
Annual Loss
Compared to
2007-08
Cumulative
Compared to
2007-08
--------------
--------------
2007-08
$184,756,181
2008-09
$170,679,938
-$14,076,243
-$14,076,243
2009-10
$142,882,557
-$41,873,624
-$55,949,867
2010-11
$131,868,047
-$52,888,134
-$108,838,001
2011-12
$120,510,423
-$64,245,758
-$173,083,760
2012-13
$118,438,327
-$66,317,854
-$239,401,614
2013-14
$117,550,070
-$67,206,111
-$306,607,725
2014-15
$120,677,410
-$64,078,771
-$370,686,496
2015-16 (96%)
$127,412,810
-$57,343,371
-$428,029,867
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 What is the “roll-back rate”? The roll-back rate looks at the
change in assessed values and attempts to explain a
change in taxes if the assessed values had not changed
 So the roll-back rate asks “Using this year’s GTV (net of
new taxable values), what millage rate would generate the
same amount of property tax revenue for the District?”
 This calculation makes more sense when assessed values
are increasing (i.e., the roll-back rate is more than the
proposed millage). With decreasing values, the roll-back
rate can be less than the proposed rate.
GTV = the county’s gross taxable value (all assessed property)
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 The table below provides a visual representation of the roll-
back rate calculation
FY
Taxable Value
Millage
Rates
2014-15
$17,240,276,909
7.241
2015-16 (net)
$18,091,586,524
Calculated
Taxes
$124,836,845
 The 2015-16 roll-back rate is calculated so that it would
generate the same revenue as last year, using this year’s
net taxable value
Roll-back rate calculations per DR-420S
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 The calculation results in a roll-back rate of 5.55%
Millage
Rates
Taxes
$17,240,276,909
7.241
$124,836,845
2015-16 (RB)
$18,091,596,524(a)
6.900
$124,836,845
2015-16
$18,091,596,524(a)
7.283
$131,761,097
FY
2014-15
Taxable Value
 Since the roll-back rate is greater than the proposed millage
rate, more tax revenue will be collected.
 The total millage rate to be levied is 5.55% more than the
roll-back rate.
(a)
Note - This calculation uses net taxable value (per Form DR-420S)
13
FY 2015-16 Budget by Fund Group
Fund
General (includes Lab School)
Budget
$320,749,083
Food Service
$26,200,767
Special Revenue Funds-Other
$31,150,953
Special Revenue Funds-ARRA
$84,239
Debt Service
$34,819,551
Capital Projects
$54,546,917
Internal Service
$915,199
Total All Funds
$468,466,709
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Does anyone want to address
the Board prior to the Board
voting on the proposed
millages, budget, and other
resolutions?
15
 Board votes on millages by separate vote
▪ “Resolution 2015-16 TRIM Final – A”
▪ Vote on Required Local Effort Millage
▪ Vote on Discretionary Millage
▪ Vote on Capital Improvement Millage
 Board votes on 2015-16 budget , total @ $468,466,709
 Board votes on “Resolution 2015-16 TRIM Final – B” (categorical
flexibility)
 Board votes on “Resolution 2015-16 TRIM Final – C” (affirms
adoption of 2015-16 millage rates)
 Board votes on “Resolution 2015-16 TRIM Final – D” (affirms
adoption of the 2015-16 budget)
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