Fort Walton Beach — Annual Comprehensive Financial Report, September 30, 2022 — reading text

4.9999 2021 2,029,638,016 127,094,869 2,156,732,885 519,837,310 1,636,895,575 5.3293 2020 1,932,732,538 121,764,835 2,054,497,373 509,515,431 1,544,981,942 5.3293 2019 1,824,002,582 118,539,677 1,942,542,259 493,474,028 1,449,068,231 5.6395 2018 1,717,941,745 113,382,574 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 (1) Florida State Law requires all property to be assessed at current fair market. The January 2021 assessment is the basis for Fiscal Year 2021-22 tax revenues. Source: Okaloosa County Property Appraiser 112  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 Total Direct Okaloosa County School Water Overlapping Year (1) Basic Rate Rate County Board Management Rates 2022 4.9999 4.9999 3.8308 5.5790 0.0261 9.4359 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 (1) As of levy date, November 1 of each year listed. The 2021 millage rate is the basis for Fiscal Year 2021-22 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 113  City of Fort Walton Beach, Florida SCHEDULE 8 PRINCIPAL TAXPAYERS Unaudited 2022 2013 Total Total Assessed Assessed Taxpayer Value Percentage Rank Value Percentage Rank Florida Power & Light Co. $ 30,455,015 1.61% 1 $ 17,394,520 1.54% 1 Florida Power & Light Co. (Gulf Power Co.) Suso 2 Uptown, LP 18,414,414 0.98% 2 14,955,171 1.33% 2 DRS Training & Control Systems KAGR Fort Walton 1005 LLC 11,706,144 0.62% 3 14,233,565 1.26% 3 Suso 2 Uptown, LP FWB Greens LLC 11,254,536 0.60% 4 7,108,180 0.63% 4 Cox Communications Gulf Coast, LLC Extra Space Properties Two LLC 9,940,630 0.53% 5 6,742,312 0.60% 5 Fort Walton Machining, Inc. BAE Systems Technology 9,907,275 0.53% 6 6,081,000 0.54% 6 Presidio Developers, LLC DJD Investments of FL II LLC 8,986,799 0.48% 7 6,034,454 0.54% 7 BLC Westwood, LLC WIM-FWB RI, LLC 8,971,538 0.48% 8 5,592,401 0.50% 8 Embarq Corp. Pacifica Walton Beach LLC 8,820,882 0.47% 9 4,969,909 0.44% 9 HSU Paul S & Majes Bay Port Assisted Living, Inc. 8,336,407 0.44% 10 4,420,321 0.39% 10 DDRM Shoppes at Paradise Pointe, LLC Total Taxable Assessed Value of Principal Taxpayers 126,793,640 6.72% 87,531,833 7.76% Total Taxable Assessed Value of Other Taxpayers 1,760,073,881 93.28% 1,040,195,097 92.24% Total Taxable Assessed Value $ 1,886,867,521 100.00% $ 1,127,726,930 100.00% (1) The 2021 tax roll is the basis for Fiscal Year 2021-22 tax revenues. Source: Okaloosa County Property Appraiser 114  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 2022 The 2022 tax levy is the basis for Fiscal Year 2022-23 tax revenues. 2021 $ 8,739,154 $ 8,419,880 96.3% $ 21,315 $ 8,441,195 96.6% $ 9,958 0.1% 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% (1) Includes discount taken for early payment of taxes (maximum of 4%). Source: Okaloosa County Tax Collector 115  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 Leases Financing Revenue Revenue Obligation Leases Revenue Revolving Revenue Primary of Personal Per Year Bonds Payable Contracts Notes Bonds Bonds Payable Notes Loans Bonds Government Income (1) Capita (2) 2022 $ - $ 393,186 $ 600,745 $ 8,888,359 $ 11,365,436 $ - $ - $ 6,167,000 $ 10,452,433 $ - $ 37,867,159 0.30% 1,802.25 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