Fort Walton Beach — Annual Comprehensive Financial Report, September 30, 2025 — reading text

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 (1) As of levy date, November 1 of each year listed. The 2024 millage rate is the basis for fiscal year 2025 tax revenues * Overlapping rates are those of local and county governments that apply to property owners within the City of Fort Walton Beach Source: Okaloosa County Tax Collector 109  City of Fort Walton Beach, Florida SCHEDULE 8 PRINCIPAL TAXPAYERS Unaudited 2025 2016 Total Total Assessed Assessed Taxpayer Value Percentage Rank Value Percentage Rank Florida Power & Light Co. $ 50,501,089 2.09% 1 $ 20,358,644 1.66% 1 Florida Power & Light Co. (Gulf Power Co.) U S GOVT/HOME2SUITES 44,207,505 1.83% 2 14,339,454 1.17% 2 Suso 2 Uptown, LP Suso 2 Uptown, LP 24,286,599 1.00% 3 7,005,455 0.57% 3 Cox Communications Gulf Coast, LLC KAGR Fort Walton 1005 LLC 12,125,074 0.50% 4 6,077,028 0.50% 4 99 Eglin, LTD Extra Space Properties Two LLC 11,702,804 0.48% 5 5,651,258 0.46% 5 DRS Training and Control WIM-FWB RI LLC 11,480,152 0.47% 6 5,553,541 0.45% 6 Pacifica Walton Beach, LLC Cox Communications Gulf Coast, LLC 11,428,682 0.47% 7 5,183,838 0.42% 7 Embarq Corp. FWB Greens LLC 10,596,466 0.44% 8 5,154,076 0.42% 8 PSH of Okaloosa, LLC Pacifica Walton Beach LLC 10,593,534 0.44% 9 4,897,391 0.40% 9 FNBT.com Bank Retreat at Fort Walton Beach Propco LLC 8,811,970 0.36% 10 4,330,150 0.35% 10 Fort Walton Machining, Inc. Total Taxable Assessed Value of Principal Taxpayers 195,733,875 8.08% 78,550,835 6.42% Total Taxable Assessed Value of Other Taxpayers 2,226,118,531 91.92% 1,145,869,258 93.58% Total Taxable Assessed Value $ 2,421,852,406 100.00% $ 1,224,420,093 100.00% (1) The 2025 tax roll is the basis for fiscal year 2026 tax revenues. Source: Okaloosa County Property Appraiser 110  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 2025 The 2025 tax levy is the basis for fiscal year 2025-26 tax revenues. 2024 $ 9,545,443 $ 9,197,456 96.4% $ 13,876 $ 9,211,332 96.5% $ 5,488 0.06% 2023 9,636,641 9,283,765 96.3% 7,456 9,291,221 96.4% 6,039 0.06% 2022 9,451,861 9,105,332 96.3% 19,389 9,124,721 96.5% 4,244 0.04% 2021 8,739,154 8,419,880 96.3% 21,315 8,441,195 96.6% 9,958 0.11% 2020 8,245,481 7,939,074 96.3% 13,594 7,952,668 96.4% 6,029 0.07% 2019 8,186,794 7,900,798 96.5% 18,327 7,919,125 96.7% 7,490 0.09% 2018 7,822,441 7,526,583 96.2% 20,747 7,547,330 96.5% 3,469 0.04% 2017 7,387,081 7,119,876 96.4% 8,632 7,128,508 96.5% 8,122 0.11% 2016 7,080,530 6,826,718 96.4% 18,798 6,845,516 96.7% 9,696 0.14% (1) Includes discount taken for early payment of taxes (maximum of 4%). Source: Okaloosa County Tax Collector 111  City of Fort Walton Beach, Florida SCHEDULE 10 RATIOS OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years Unaudited Governmental Activities Business Activities General General State Total Percentage Fiscal Obligation Lease Subscription Financing Revenue Revenue Obligation Lease Subscription Revenue Revolving Primary of Personal Per Year Bonds Liabilities Liabilities Contracts Notes Bonds Bonds Liabilities Liabilities Notes Loans Government Income (1) Capita (2) 2025 $ - $ 594,073 $ 1,804,986 $ 380,874 $ 5,932,701 $ 9,973,067 $ - $ 35,817 $ 179,838 $ 4,673,000 $ 8,164,380 $ 31,738,736 0.22% 1,472.59 2024 - 421,986 1,298,973 222,785 6,937,626 10,520,145 - 102,468 - 5,185,000 8,941,531 33,630,514 0.25% 1,594.62 2023 - 193,047 1,714,631 536,581 7,922,834 10,950,732 - 166,017 - 5,683,000 9,704,126 36,870,968 0.28% 1,745.78 2022 - 393,186 - 600,745 8,888,359 11,365,436 - 190,610 - 6,167,000 10,452,433 38,057,769 0.30% 1,811.33 2021 - - - 944,447 9,828,934 11,764,842 - - - 6,637,000 11,186,723 40,361,946 0.35% 1,926.77 2020 - - - 67,035 9,025,971 12,149,516 - - - 7,093,000 11,907,259 40,242,781 0.38% 1,910.50 2019 - - - 6,681 9,726,372 12,520,000 - - - 7,537,000 12,614,297 42,404,350 0.42% 2,025.04 2018 - - - 42,217 10,408,945 - - - - 7,968,000 13,308,089 31,727,251 0.33% 1,523.15 2017 - - - 76,099 11,073,656 - - - - 8,387,000 13,988,885 33,525,640 0.37% 1,605.17 2016 - - - 106,653 11,725,331 - - - - 8,794,000 14,656,929 35,282,913 0.40% 1,689.88 Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive 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. (1) See Schedule 15 for personal income data. (2) See Schedule 15 for population data. Note: Beginning in FY22, the City implemented GASB Statement No. 87, Leases Note: Beginning in FY23, the City implemented GASB Statement No. 96, Subscription-Based Information Technology Arrangements Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. 112  City of Fort Walton Beach, Florida SCHEDULE 11 RATIO OF NET GENERAL BONDED DEBT OUTSTANDING Last Ten Fiscal Years Unaudited Governmental Activities Percentage of General Actual Taxable Fiscal Year Obligation Bonds Value of Property (1) Per Capita (2)