future funding for polk's transportation initiative

13
On the Ballot: Future Funding for Polk County’s Transportation Initiative

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Page 1: Future Funding for Polk's Transportation Initiative

On the Ballot:Future Funding for Polk County’sTransportation Initiative

Page 2: Future Funding for Polk's Transportation Initiative

Radio

Internet

transportationTransformation

My Road Your DecisionMy Ride

Page 3: Future Funding for Polk's Transportation Initiative

challenges

Growth

Gas Tax

Access to Jobs2013 2020

2007 2013

700,000

-13%

transportation

Ad Valorem 2008 2013

-35%

FPL

27.8%

Page 4: Future Funding for Polk's Transportation Initiative

unfunded projects

$433,855,000

Capacity

Transportation Drainage

Bridge Replacement

Intersections

Substandard Roads

Page 5: Future Funding for Polk's Transportation Initiative

paying for roads1 Mill property tax

$33 million – Annual Road Resurfacing

Needs only

Page 6: Future Funding for Polk's Transportation Initiative

1Leave 1 Mill for Roads with declining level of service

November 4

2

3

rule

rule

Potentially raise property taxes to maintain existing level of service

Remove 1 mill for roads. 1% sales surtax for My Ride My Road

voter choices

Page 7: Future Funding for Polk's Transportation Initiative

tax switch“share the ride” with visitors

20% of taxable sales in Polk County are made by the tens of thousands of businesses and tourists who pass through the county every day

Page 8: Future Funding for Polk's Transportation Initiative

transitMy ride

Citrus Connection

BoCC

Page 9: Future Funding for Polk's Transportation Initiative

new servicesMy Ride

• Work• Hospital/Urgent

Care• Late night

entertainment

Picture 1Expanding routes in all communities and Poinciana

Picture 2

Picture 3

New after-hours taxi services for nights and weekends

Regional service to airports and VA

3

1 2

Page 10: Future Funding for Polk's Transportation Initiative

tax switchEliminating property tax

Page 11: Future Funding for Polk's Transportation Initiative

paying for roadsComparing potential millage rates

Higher millage than Polk

Lower millage than Polk

234

Page 12: Future Funding for Polk's Transportation Initiative

tax switchHousehold Purchases Amount 1% SurtaxToothpaste 2.99$ 0.03$ Grande Chi Latte @ Starbucks 4.15$ 0.04$ 12-roll package of toilet tissue 5.97$ 0.06$ Grilled Chicken Value Meal (large) 7.49$ 0.07$ Large carryout Pepperoni Pizza 12.95$ 0.13$ 15 pounds Iams dry dog food 17.97$ 0.18$ Nike athletic shoes 79.99$ 0.80$ 5 gallons interior paint w/primer 112.00$ 1.12$ Sharp 42" LED HDTV Television 430.00$ 4.30$ Whirlpool 26" Stainless Steel Refrigerator 1,299.00$ 12.99$ $18,000 new/used car (first $5000 only taxed) 18,000.00$ 50.00$

Page 13: Future Funding for Polk's Transportation Initiative

Estimating additional 1% sales tax*

Median Household Income $43,606

25% spent on items generating 7% sales tax

763.11

25% spent on items generating 8% sales tax

872.12

Additional sales tax adding 1% 109.01

1.5-Mill reduction median $120,200 home with Homestead Exemption

-105

Net Tax Increase $4.01

tax switchIncome 25% 7% 8%25,000$ 6,250$ 437.50$ 500$ 30,000 7,500 525 60035,000 8,750 612.5 70040,000 10,000 700 80045,000 11,250 787.5 90050,000 12,500 875 1,00055,000 13,750 962.5 1,10060,000 15,000 1050 120065,000 16,250 1,137.50 1,30070,000 17,500 1,225 1,40075,000 18,750 1,312.50 1,50080,000 20,000 1,400 1,60085,000 21,250 1,487.50 1,70090,000 22,500 1,575 1,80095,000 23,750 1,622.50 1,900

100,000 25,000 1,750 2,000

*If 25% of household income is spent on items that generate sales tax**Source: Polk County Property Appraiser and taxfoundation.org