The Southwest Florida Water Management District Governing Board adopted its fiscal year 2013-2014 millage rate and budget Sept. 24.
The board adopted a millage rate of 0.3818 mills, which is 2.8 percent lower than the current fiscal year. This millage rate is 0.5 percent below the rolled-back millage rate, and will result in a $2.9 million reduction in ad valorem taxes for the Districtís taxpayers.
For the owner of a $150,000 home with a $50,000 homestead exemption, the FY2013-2014 District tax would be $38.18 a year, or about $3.18 per month. The fiscal year runs from Oct. 1, through Sept. 30.
The total FY2013-2014 budget for the District is $170.8 million.
The budget includes $95.8 million for capital/infrastructure and other District projects. The Districtís funds leveraged with its partners will result in a total investment of more than $138 million for water resource management projects benefitting the region.
The budget increase will be funded using balances available from prior years, due to canceled projects or projects completed under budget, and re-budgeted prior year state trust funds.
Over the long term, the District has identified adequate fiscal resources to address the core mission areas of responsibility for water supply, water quality, flood protection and floodplain management, and natural systems. The Districtís fiscal resources supplemented with project reserves will adequately maintain a healthy investment in the economy and water resources during the next five to 10 years.