1. Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMA Finance Director Lina Williams Budget & Financial Analyst

2. Budget Preparation Timeline January  First Quarter Review February  Financial Audit March  Presentation of Annual Progress Report and Citizen Survey Results  Revise 10 Year Infrastructure Plan April  Presentation of the Year to Date Budget  Second Quarter Review  Budget Input Begins for Departments May  Annual Update of the Strategic Action Plan  Fund Accounting Presentation  Long Term Financial Planning Presentation June  Revenue Source Presentation  Property Tax Presentation

3. Budget Preparation Timeline July  General Fund Budget Workshop  Adopt Proposed Maximum Millage Rate  Proprietary Funds Budget Workshop  Third Quarter Review August  Special Revenue & Capital Fund Budget Workshop  Final Proposed Budget Presentation September  Public Hearing to Tentatively Adopt Millage Rate & Budget  Public Hearing to Adopt Final Millage Rate & Budget

4. Property Tax Terminology  Truth in Millage (TRIM)  Just (Market) Value  Assessed Value  Exempt Value  Taxable Value

5. What Determines Property Taxes? Property Appraiser Assessed Value of the Home Save our Homes Limitation Portability of Save our Homes 10% Limit on Non- Homesteaded Taxable Value of the Home Assessed Value −Exemptions * =Taxable Value *Exemptions (homestead, senior, widow/widower, military, tangible, etc.) Property Taxes Taxable Value x Millage Rate =Property Tax Each Taxing Authority Sets Their Millage Rate

6. Save Our Homes Limitations FY 2010 - 2014 Property Appraiser Assessed Value of the Home Save our Homes Limitation Portability of Save our Homes 10% Limit on Non- Homesteaded

7. Property Tax Bill COPC Portion of Tax Bill COPC portion is less than 21% of Total Taxes COPC portion is less than 21% of Total Taxes

8. Residential Property as a % of All Property

9. Market Value vs. Taxable Value Hypothetical Example Market Value increases 50% per year Taxable Value on Homestead can only increase lessor of 3% per year or CPI

10. Millage Rate History Fiscal YearProperty ValueOperating MillageCapital MillageTotal Millage Ad Valorem Receipts 2002 1,773,378,8653.15000.35003.50000 5,981,827 2003 1,983,740,6283.05000.35003.40000 6,539,567 2004 2,404,239,1113.05000.35003.40000 7,855,523 2005 3,107,581,0902.90000.50003.40000 10,207,899 2006 4,444,854,9282.40001.00003.40000 14,632,296 2007 6,239,994,4892.50000.75003.25000 19,603,806 2008 7,009,877,4212.21230.75002.96234 20,184,340 2009 6,131,965,1692.61230.35002.9623 17,602,781 2010 5,246,998,1873.15000.35003.5000 17,828,406 2011 4,463,085,5503.5000- 15,048,300 20123,891,594,1263.54000.45003.9900 15,000,700 20133,646,122,0214.15020.14564.2958015,120,750 20143,690,312,8574.1932.07734.270515,203,633 Change 2008-2014(3,319,564,564)1.9809(.6727)1.30816(4,980,707) Percentage Change(47%)---(24%)

11. Adopted Millage Rate vs. Rolled-Back Rate Fiscal Year 2008-2014

12. City Ad Valorem Tax History FY 2008 - 2014

13. 2014 Millage Rates Survey of Cities between 60K-90K Population 18 Cities with Millage RankingCityPopulationMillage RateTaxable Value Property Tax Collections Public Service Taxes 1Weston65,6772.00000$6,706,786,482$13,413,573Yes 2Boca Raton86,0413.4216017,272,211,53259,098,599Yes 3Palm Coast77,0684.270503,690,312,85715,759,481No 11 Daytona Beach 61,9987.235703,278,489,00023,722,163Yes 18Fort Myers67,0818.776004,206,426,92036,915,603Yes

14. Services Provided through Property Taxes Fiscal Year 2014 $15.2 Million Ad Valorem Taxes

15. Palm Coast Citizen’s Tax Bill Including grants, the City receives $36.50/month or $438/year per city resident. Not including grants the City receives $30/month or $360/year per city resident. TAX REVENUE: Ad Valorem, Sales, Gas, Communications, Local Business Tax, Solid Waste Franchise Fee, State Revenue Sharing, State & Federal Grants, etc.

16. Palm Coast Citizen’s Tax Bill $36.50/Month or $438/Year pays for: Emergency Services Additional Law Enforcement Code Enforcement Housing Programs Streets (including Maintenance and Resurfacing) Parks, Paths and Trails (including maintenance and construction) Indirect Costs and Others

17. Tentative Budget Schedule July 8 th - Budget Workshop - General Fund 15 th - Business Meeting - Adopt Proposed Maximum Millage Rate 29 th - Budget Workshop - Proprietary Funds August 12 th Budget Workshop – Special Revenue Funds & Capital Funds 26 th - Final Proposed Budget Presentation September 3 rd - Public Hearing to tentatively adopt millage rate and budget 17 th - Final Public Hearing to adopt final millage and budget