COMMISSIONERS DISCUSS FISCAL YEAR 2022 AT BUDGET WORKSHOP, CERTIFIES FY22 PROPOSED DECREASED MILLAGE RATE TO PROPERTY APPRAISER

MONROE COUNTY, FL – The Monroe County Board of County Commissioners met today to discuss the proposed $455.6 million Fiscal Year 2022 (FY22) budget. The budget includes the Board of County Commissioners, the constitutional officers, like the Sheriff’s Office, Tax Collector, Clerk of Court, and others, the Tourist Development Council, capital projects, reserves, and debt service.

Monroe County Administrator Roman Gastesi and Budget and Finance Director Tina Boan presented the proposed budget with estimates of residential real estate trends, taxable property values, sales taxes, and state shared revenues, along with fund balance, reserves, and general fund.

“As we emerge from the COVID-19 crisis, it is clear Monroe County continues to benefit from steadfast leadership, dedicated staff, responsible fiscal management, and the remarkable resilience of our community,” said Gastesi. “While uncertainties linger, we are hopeful that with each successive month, we will return to a greater sense of normalcy.”

Despite the pandemic’s challenges, the County implemented strategic cuts in the FY21 budget to place Monroe County on a solid financial footing for recovery. During FY21, the County operated the longest-ever Emergency Operation Center activation, opened the Cudjoe Key Fire Station and Marathon library, has almost completed the Plantation Key Courthouse and Detention Center, and continues the Duck Key bridge strengthenings. The County saved the community millions of dollars with upgraded Community Rating System, prepared the community for FEMA flood map changes, secured disaster recovery and CARES Act funds, experimented with flood control mitigation, graduated additional Monroe County Fire Rescue “Hot Shots,” and secured $26 million in legislative appropriations, among other accomplishments through every department.

“This meeting was an opportunity for the commissioners to tell us what they would like to see going into the formal budget discussions in September,” said Boan. “This is a moving, dynamic, and changing budget that we can continue to shape to fit the needs of the community.”

The proposal was built on the estimated Countywide taxable property value increase, which exceeds last year’s historically high figure. As of now, the County continues to have the lowest millage rate in the State of Florida. For all revenue sources, the estimates present a decrease of the current FY21 aggregate millage rate by .5 percent from 3.3435 to 3.3273, which is 5.47 percent above the rollback rate for the FY22 budget.

Some of the FY22 budget highlights include:

  • Decreases FY21 aggregate millage rate by .5 percent, lowest in the State of Florida.
  • Reflects a property value increase with a total value exceeding $32 billion, a historic high.
  • Assumes economic return of 2019 revenue levels with modest growth.
  • Includes return to pre-COVID-19 operational levels with Consumer Price Index (CPI) inflation increases for vendor contracts, state-mandated retirement rates, higher cost of fuel and materials, increased utility costs, vehicle replacements, and modest salary adjustments.
  • Continued stabilization of fund balances, which has shown prudent to financial resilience during Hurricane Irma and COVID-19.
  • More than $2 million in funding for community-based organizations.

“In February 2020, we went from a 2.8 percent unemployment rate, one of the lowest in the state, to 17.7 in May 2020. We are now back to 3.1 as of May 2021,” said Gastesi. “The residential housing market is stronger than ever, and our hotel and airport numbers have skyrocketed. As a result, the County is experiencing robust revenue growth that will help secure future road and bridge projects, infrastructure hardening, flood mitigation, canal restoration, airport upgrades, and implementation of other projects to make Monroe County more user-friendly.”

With the proposed budget and Countywide average property values, a homesteaded residential property with an appraised assessed taxable value of $385,603 in 2022 would have a $13.73 increase in the property tax for the FY22 year with the proposed budget, which is $1.14 per month.

The budget process timeline is:

  • Wednesday, Sept. 8 – First Public Hearing: At this hearing, the BOCC adopts the tentative millage rate and tentative budget. Key West Harvey Government Center, 5:05 p.m.
  • Thursday, Sept. 9 – Special Budget Meeting: This meeting is an additional non-required meeting held in the Middle Keys. Marathon Government Center, 5:05 p.m.
  • Wednesday, Sept. 15 – Final Public Hearing: At this meeting, the BOCC adopts the final millage rate and final budget. Key Largo Murray Nelson Government Center, 5:05 p.m.

The Monroe County Office of Budget and Finance provides coordination and development of the budget. The FY20 budget was $472.7 million, which included continued Hurricane Irma recovery, and the FY21 was $460.3 million with COVID-19 expenditure reductions in place. The office continues to work on Hurricane Irma and COVID-19 impacts while still providing for the department’s daily operations, program enhancements, and capital projects and improvements.

For more information about the budgeting process, visit www.monroecounty-fl.gov/budgetandfinance.

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