Annual Budget Workshop Results in Recommended Budget to Lower Taxes for the 3rd Year in a Row
On Tuesday, July 5, 2022, the Fiscal Year (FY) 2022-2023 Recommended Budget was presented at the Board of County Commissioners (BOCC) Budget Workshop. During the workshop, a budget with a lower millage rate was presented. This is the 3rd year in a row a budget with lower taxes has been presented by Hernando County’s leadership under County Administrator Jeff Rogers. Mr. Rogers’ and his team have been able to successfully present a reduction of taxes despite the inflation rate of 8.6% as of May 2022 from the U.S. Bureau of Labor Statistics.
“I am proud of the work of the County employees to find efficiencies in their roles to allow us to continue to decrease ad-valorem taxes 0.75 mills in three years, while working to continue to meet the increased demand for services, said Hernando County Administrator, Jeff Rogers. While there are uncertainties in the economic forecast for the future, Hernando County is financially in a strong position to be able to continue to serve the citizens of the County with any change in revenue.”
The Total Recommended Budget is $647,425,424. This budget includes a millage reduction of 0.2, with a Certified Tax Value Increase of 18.82%. The BOCC further recommended a reduction of 0.1 millage for a total of 0.3.
Additional Budget Highlights:
- General Fund Reserves $47,215,244
- Judicial Center Remodel $21,500,000
- Constitutionals Budgets $85,804,458
- Capital projects of $124,508,058
- 2nd payment American Rescue Funds $18,833,344
Funding Focus for Budget:
- Maintain/Increase Reserves
- Economic Development
- Maintain Fund for Storm Recovery ($884,000 current balance)
- Prioritizing Recovery Act Funds
- Improve Service Efficiencies to meet increasing demands due to community growth
Future Items of Significance:
- Minimum Wage Increase
- Services/Contracts Increase with Inflation
- Continued Community Growth and demands for increased services
- Diversification of Revenue
- Property Value Decrease/Recession • Additional Homestead Exemption for First Responders/Teachers etc.
- Debt Service for new Capital Projects ($736,067)
The adoption of the FY 2022-2023 Final Millage and Budget is scheduled for September 27, 2022, beginning at 5:01pm in the John Law Ayers room located on the first floor of the Government Center at 20 North Main Street in Brooksville. You can also stream the meeting by visiting www.HernandoCounty.us/WatchNow.
To view the Budget Workshop Presentation, visit
https://stories.opengov.com/hernandocountyfl/published/yxZtOAE-2.
To view the FY 2022-2023 Recommended Budget Book, visit
https://stories.opengov.com/hernandocountyfl/published/9B6co_JfS.
For more information on the Office of Budget and Management, visit
www.HernandoCounty.us/departments/departments-f-m/management-and-budget.
Please contact the Office of Management and Budget at (352) 754-4004 for more information.
Source: https://www.hernandocounty.us/Home/Components/News/News/7150/18
