The Southwest Florida Water Management District Governing Board Tuesday adopted its fiscal year 2013-14 millage rate and budget.
The governing board adopted a millage rate of 0.3818 mill, which is 2.8 percent lower than the current 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 district's taxpayers. For the owner of a $150,000 home with a $50,000 homestead exemption, the FY2013-14 district tax would be $38.18 a year, or about $3.18 per month. The 2013-14 fiscal year will run from Oct. 1 through Sept. 30, 2014.
The total FY2013-14 budget for the district is $170.8 million.
The budget includes $95.8 million for capital/infrastructure and other district projects.
"The district's 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 cancelled projects or projects completed under budget, and re-budgeted prior year state trust funds," states a news release.