future funding for polk's transportation initiative
TRANSCRIPT
On the Ballot:Future Funding for Polk County’sTransportation Initiative
Radio
Internet
transportationTransformation
My Road Your DecisionMy Ride
challenges
Growth
Gas Tax
Access to Jobs2013 2020
2007 2013
700,000
-13%
transportation
Ad Valorem 2008 2013
-35%
FPL
27.8%
unfunded projects
$433,855,000
Capacity
Transportation Drainage
Bridge Replacement
Intersections
Substandard Roads
paying for roads1 Mill property tax
$33 million – Annual Road Resurfacing
Needs only
1Leave 1 Mill for Roads with declining level of service
November 4
2
3
rule
rule
Potentially raise property taxes to maintain existing level of service
Remove 1 mill for roads. 1% sales surtax for My Ride My Road
voter choices
tax switch“share the ride” with visitors
20% of taxable sales in Polk County are made by the tens of thousands of businesses and tourists who pass through the county every day
transitMy ride
Citrus Connection
BoCC
new servicesMy Ride
• Work• Hospital/Urgent
Care• Late night
entertainment
Picture 1Expanding routes in all communities and Poinciana
Picture 2
Picture 3
New after-hours taxi services for nights and weekends
Regional service to airports and VA
3
1 2
tax switchEliminating property tax
paying for roadsComparing potential millage rates
Higher millage than Polk
Lower millage than Polk
234
tax switchHousehold Purchases Amount 1% SurtaxToothpaste 2.99$ 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$
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