Budget terms
Definitions for budget and property-tax terms used on this site.
- Ad Valorem Tax
- A property tax calculated from a property’s taxable value and the applicable millage rate.
- Adopted Budget
- The spending plan approved by the Board of County Commissioners for a fiscal year. It sets authorized spending amounts for county departments and programs.
- Capital Budget
- Funding for long-term assets and projects such as roads, parks, buildings, equipment, and transit systems. Capital costs are separate from annual operating costs.
- Enterprise Fund
- A fund for a county service financed mainly through charges to its users. County examples include Aviation and Water and Sewer.
- Fiscal Year
- The County’s 12-month budget period, from October 1 through September 30. FY 2025–26 runs from October 2025 through September 2026.
- Fringes
- Employee costs in addition to salary, including health insurance, retirement contributions, Social Security, and workers’ compensation.
- General Fund
- The County’s main operating fund for services that are not supported by a separate enterprise or dedicated revenue source.
- Homestead Exemption
- A reduction in taxable value for eligible Florida residents who own and occupy their primary home. The exemption is up to $50,000, with a smaller amount applying to school taxes.
- Millage Rate
- A property-tax rate stated in dollars per $1,000 of taxable value. A rate of 5.0 mills equals $5 per $1,000.
- Operating Budget
- The annual spending plan for recurring costs such as salaries, utilities, supplies, contracts, and maintenance.
- Strategic Area
- One of nine service categories used in the FY 2025–26 adopted budget to organize departments and operating spending.