Fort Walton Beach — Comprehensive Financial Report September 30, 2021 — reading text

2012 10,065,983 2,142,995 3,291,683 969,560 152,936 537,975 2,284,416 19,445,548 (1) Includes General Fund, LETFs, CDBG Fund, FBC Fund, CRA Fund, Debt Service Fund, Capital Projects Fund, and Beal Memorial Fund Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. The City implemented GASB Statement 34 in 2002; schedules presenting government-wide information include information beginning in that year. Note: Beginning in FY14, the Golf Enterprise Fund was transferred into the General Fund. 112  City of Fort Walton Beach, Florida SCHEDULE 6 ASSESSED VALUE OF TAXABLE PROPERTY (1) Last Ten Fiscal Years Unaudited Total Assessed Total Tax Real Personal Assessed Value for Direct Tax Year Property Property Value Exemptions Operations Rate 2021 $ 1,509,800,706 $ 127,094,869 $ 2,156,732,885 $ 519,837,310 $ 1,636,895,575 5.3293 2020 1,423,217,107 121,764,835 2,054,497,373 509,515,431 1,544,981,942 5.3293 2019 1,330,528,554 118,539,677 1,942,542,259 493,474,028 1,449,068,231 5.6395 2018 1,240,032,941 113,382,574 1,831,324,319 477,406,649 1,353,917,670 5.7697 2017 1,622,927,933 117,555,021 1,740,482,954 462,721,193 1,277,761,761 5.7697 2016 1,569,650,612 113,113,590 1,682,764,202 458,344,109 1,224,420,093 5.7697 2015 1,521,529,660 112,451,954 1,633,981,614 448,170,536 1,185,811,078 5.7697 2014 1,475,665,054 108,533,120 1,584,198,174 434,639,300 1,149,558,874 5.7697 2013 1,451,775,552 118,155,863 1,569,931,415 442,204,485 1,127,726,930 5.7697 2012 1,445,327,759 120,653,616 1,565,981,375 446,565,401 1,119,415,974 4.5383 (1) Florida State Law requires all property to be assessed at current fair market. The January 2019 assessment is the basis for Fiscal Year 2018-19 tax revenues. Source: Okaloosa County Property Appraiser 113  City of Fort Walton Beach, Florida SCHEDULE 7 PROPERTY TAX RATES PER $1,000 OF TAXABLE VALUE - ALL DIRECT AND OVERLAPPING GOVERNMENTS (1) Last Ten Fiscal Years Unaudited City of Fort Walton Beach Direct Rate Overlapping Rates* Okaloosa Northwest Florida Total Fiscal Total Direct Okaloosa County School Water Overlapping Year Basic Rate Rate County Board Management Rates 2021 5.3293 5.3293 3.8308 5.9430 0.0294 9.8032 2020 5.3293 5.3293 3.8308 6.0350 0.0311 9.8969 2019 5.6395 5.6395 3.8308 6.2060 0.0327 10.0695 2018 5.7697 5.7697 3.8308 6.3610 0.0338 10.2256 2017 5.7697 5.7697 3.8308 6.5880 0.0353 10.4541 2016 5.7697 5.7697 3.4308 6.9070 0.0366 10.3744 2015 5.7697 5.7697 3.4308 7.2790 0.0378 10.7476 2014 5.7697 5.7697 3.4308 7.4410 0.0390 10.9108 2013 5.7697 5.7697 3.4308 7.5510 0.0400 11.0218 2012 4.5383 4.5383 3.2899 7.4760 0.0400 10.8059 (1) As of levy date, November 1 of each year listed. The 2019 millage rate is the basis for Fiscal Year 2018-19 tax revenues. * Overlapping rates are those of local and county governments that apply to property owners within the City of Fort Walton B Source: Okaloosa County Tax Collector 114  City of Fort Walton Beach, Florida SCHEDULE 8 PRINCIPAL TAXPAYERS Unaudited 2021 2012 Total Total Assessed Assessed Taxpayer Value Percentage Rank Value Percentage Rank Florida Power & Light Co. $ 29,163,143 1.78% 1 $ 14,236,425 1.27% 1 Uptown Station Investors, LLC Suso 2 Uptown, LP 16,723,033 1.02% 2 7,395,000 0.66% 2 Presidio Developers, LLC BAE Systems Technology 9,414,638 0.58% 3 6,287,673 0.56% 3 BLC Westwood, LLC Pacifica Walton Beach LLC 8,018,984 0.49% 4 4,916,159 0.44% 4 DRS Training & Control Systems Cox Communications Gulf Coast, LLC 7,360,150 0.45% 5 4,867,494 0.43% 5 DDRM Shoppes at Paradise 99 Eglin LTD 7,262,643 0.44% 6 4,193,682 0.37% 6 FNBT Bank H&E Equipment Service 7,203,248 0.44% 7 4,095,529 0.37% 7 Choctaw Plaza LTD 127 Miracle Strip LLC 6,691,847 0.41% 8 4,088,691 0.37% 8 ECH II - Captain's Quarters, LLC DJD Investments of FL II LLC 6,236,692 0.38% 9 3,736,780 0.33% 9 Mariner Plaza Realty Assoc. University Place, Inc. 5,864,625 0.36% 10 3,605,499 0.32% 10 Brown, Brown & Brown Total Taxable Assessed Value of Principal Taxpayers 103,939,003 6.35% 57,422,932 5.13% Total Taxable Assessed Value of Other Taxpayers 1,532,956,572 93.65% 1,061,993,042 94.87% Total Taxable Assessed Value $ 1,636,895,575 100.00% $ 1,119,415,974 100.00% (1) The 2020 tax roll is the basis for Fiscal Year 2020-21 tax revenues. Source: Okaloosa County Property Appraiser 115  City of Fort Walton Beach, Florida SCHEDULE 9 PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Years Unaudited Ratio of Ratio of Amount of Percent of Amount of Total Total Taxes Delinquent Current Current Delinquent Collected Collected to Amount of Taxes to Tax Total Tax Taxes Taxes Taxes for the Current Delinquent Current Year Levy (1) Collected Collected Collected Year Levy Taxes Levy 2021 The 2021 tax levy is the basis for Fiscal Year 2021-22 tax revenues. 2020 $ 8,245,481 $ 7,939,074 96.3% $ 13,594 $ 7,952,668 96.4% $ 6,029 0.1% 2019 8,186,794 7,900,798 96.5% 18,327 7,919,125 96.7% 7,490 0.1% 2018 7,822,441 7,526,583 96.2% 20,747 7,547,330 96.5% 3,469 0.0% 2017 7,387,081 7,119,876 96.4% 8,632 7,128,508 96.5% 8,122 0.1% 2016 7,080,530 6,826,718 96.4% 18,798 6,845,517 96.7% 9,696 0.1% 2015 6,858,983 6,606,940 96.3% 30,392 6,637,332 96.8% 8,058 0.1% 2014 6,656,342 6,414,562 96.4% 31,452 6,446,014 96.8% 3,604 0.1% 2013 6,528,146 6,269,683 96.0% 76,388 6,346,071 97.2% 11,388 0.2% 2012 5,096,206 4,880,002 95.8% 50,880 4,930,882 96.8% 10,265 0.2% (1) Includes discount taken for early payment of taxes (maximum of 4%). Source: Okaloosa County Tax Collector 116  City of Fort Walton Beach, Florida SCHEDULE 10 RATIOS OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years Unaudited Governmental Activities