REVENUES
The primary revenue of the Ballough Road Redevelopment Area is generated by the portion of property taxes determined by taxable property values above the base level of $9,086,882 established when the CRA was created in 1985, as generated by the City of Daytona Beach, Volusia County and Halifax Hospital. In FY 2023/24, the CRA’s TIF revenues totaled $258,302.68. The budgeted equivalent TIF revenues for the current year total $286,242.
$35
The provided chart indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1985.
$30
$25
Increment Base
$20
$15
$10
$5
The area is scheduled to expire in 2036.
$-
FY 2017/18
FY 2018/19
FY 2019/20
FY 2020/21
FY 2021/22
FY 2022/23
FY 2023/24
EXPENDITURES - FUND 132
The expenditures for FY 2023/24 included the following: • $95,421.05 for personal services and benefits • $42,905.01 for a developer grant – TIF agreement payment
• $20,285.33 for operating expenditures. The largest operating expenditures were for grant expenditures ($8,998.50), information systems internal charges ($4,862.19), car allowance ($3,078.75), employment services internal charges ($637.50), printing & binding ($532.76) and professional services - other ($500.00).
5 YEAR CRA Comprehensive Report | 15 | Return to Table of Contents
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