Charlotte County reviews FY25 revenue outlook, proposes personal property rate change and lists $3.5M CIP needs

County Administrator Daniel Witt presented Charlotte County’s preliminary FY25 budget outlook to the Board of Supervisors on March 4, reporting revenue projections, a proposed change to the personal property tax rate, and a detailed capital-improvement plan.

Witt said the proposed personal property tax rate would be $3.46 per $100 of assessed value; the change was framed as revenue-neutral for the Commissioner of the Revenue based on switching to the NADA average trade-in values from the previously used clean trade-in values. He stated the real estate tax rate "at 62/$100 of assessed value" would not change. For FY23–FY24 Witt listed the estimated General Fund at $20,101,226, revenue YTD (Jan. 31, 2024) of $9,529,754 (53% of the year still unrealized), and projected FY25 estimated General Fund of $20,651,921 (a $550,695 or 2.7% increase). He cautioned that expected and requested expenses are likely to exceed that revenue increase.

Witt also reviewed a multi-year Capital Improvement Plan with project details across buildings, HVAC, roofs, public-works equipment, E-911/CAD replacement, sheriff vehicle replacements, and rescue squad equipment and ambulance replacement needs. The presented table showed yearly totals (FY2025–FY2029) with a multi-year subtotal listed in the packet as $3,542,412 for the specified line items.

The work session discussion did not include final decisions to set tax rates or approve CIP funding; those determinations will occur through the formal budget process. Board members did not propose a motion changing the real estate tax rate during the session. County staff will carry these figures into the proposed budget for further board consideration and public hearings.