ACFR FY 2023 Final - Flipbook - Page 46
FINANCIAL SECTION
City of Eustis, Florida
Table 15: Taxable Value by Capita Comparison
Town
Eustis
Leesburg
Mount Dora
Tavares
Population 2023
24,332
30,213
17,537
21,049
Final Taxable Value
2023
1,505,354,506
2,528,042,626
1,800,605,127
1,497,849,034
% Change from 2022
10ÿ46%
19ÿ62%
13ÿ94%
12ÿ70%
Per Capita Taxable
Value 2023
61,867
83,674
102,675
71,160
Compared with major adjacent Lake County cities and steady annual population growth, the City of
Eustis has been able to keep the lowest taxable value per capitaÿ This trend is desirable for citizens,
and we are expecting a further dynamic population increase that leads to future revenue sourcesÿ
Other factors to be considered in preparing the FY 2024-25 City budget include:
1. Revenue Projections
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Tax Revenues: Estimates of property tax, sales tax, and other local taxes, consideration of economic
conditions and potential changes in tax lawsÿ
State and Federal Aid: Anticipated grants and aid from the State and Federal government, including
any changes in funding levelsÿ
Fees and Service Charges: Expected income from City services, permits, and licensesÿ
2. Expenditure Trends
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Inflation and Cost Increases: Impact of inflation on operational costs, including wages, utilities,
and suppliesÿ
Labor Costs: Salaries and beneots for City employees, consideration of any negotiated increases
or changes in stafong levels.
Capital projects: Funding requirements for new infrastructure projects or maintenance of existing
assetsÿ
3. Legislative and Policy Changes
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Legal mandates: New laws or regulations that may affect City operations, revenue sources, or
expendituresÿ
Strategic priorities: Alignment with the City9s long-term strategic goals and priorities set by City
leadershipÿ
4. Economic Conditions
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Local Economy: The health of the local economy, including unemployment rates, business growth,
and housing market conditionsÿ
Interest Rates: Impact of current and projected interest rates on City borrowing costs and investment incomeÿ
5. Community Needs and Priorities
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public Services: Demand for public services such as public safety, sanitation, recreation, and
cultural programsÿ
Infrastructure Needs: Requirements for roads, bridges, public buildings, and utilities to continue
to serve the community effectivelyÿ
Annual Comprehensive Financial Report | September 30, 2023
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