REVENUES
The primary revenue of the South Atlantic Redevelopment Area is generated by the portion of property taxes determined by taxable property values above the base level of $63,521,382 established when the CRA was created in 2000, as generated by the City of Daytona Beach, Volusia County and Halifax Hospital. In FY 2023/24, the CRA’s TIF revenues totaled $426,387.16. The budgeted equivalent TIF revenues for the current year total $515,379.
$120
The following chart indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 2000.
$100
$80
Increment Base
$60
$40
$20
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 130
The expenditures for FY 2023/24 included the following: • $4,544.97 for personal services and benefits
• $29,980.34 for operating expenditures. The largest of these expenditures were for grant expenditures ($22,500.00), maintenance and repair ($3,668.07), professional services – other ($2,400.00), printing and binding ($923.77) and advertising legal/recruiting ($275.00).
5 YEAR CRA Comprehensive Report | 73 | Return to Table of Contents
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