**For a copy of the detailed budget, please request using the contact form.**
As part of the documentation provided to the legislature, we are required to submit a budget demonstrating that we can financially support ourselves without becoming a burden on the state. This draft budget is merely an example and not the actual budget. The budget will be determined by the elected town council after the town is formed.
Our sample budget shows:
- Our strong tax base put us in an excellent position even with a low ad valorem tax rate of 3 mills (one-third of the rate charged by Apalachicola and Carrabelle)
- Minimum tax rate of 3 mills is required to participate in state revenue share
- The town would charge the same non-ad valorem flat fee currently charged by the county for each property for the volunteer fire department.
- The town would be able to collect the construction permitting fees currently received by Franklin County for new construction and renovation projects on the island.
With the projected revenue, the town could:
- Hire qualified staff to operate the town
- Establish a town hall (leased or owned)
- Enhance resources for our first responders
- Invest $7 million in capital improvements in the first five full years
- Build $2 million in reserves after 5 years
Grants were not considered when creating the budget, and would provide further financial resources.
What property owners will pay:
The town’s ad valorem tax will be assessed on the taxable value of each property, which is the just value determined by the county property appraiser minus any exemptions like homestead.