FY 2026 Adopted Budget - Flipbook - Page 101
Taxes
Ad Valorem Taxes - General Fund
Ad Valorem taxes are budgeted at $13,171,877 (General Fund Revenue, page 125) and are collected
by the Lake County Tax Collector’s office. Most of the tax collections occur from November through
March. Tax bills are mailed in November, coming due March 31, with a sliding discount rate for
early payment beginning in November. Collections are calculated by multiplying the City’s adopted
millage rate for every $1,000 of taxable property value. The City’s millage rate is adopted by City
Commission each budget year, with the established rate predicated upon desired revenue
generated (within statutory limitations) based on the gross taxable value of real and personal
property as certified by the County Property Appraiser. The proposed millage rate for FY 2025/26
is 7.3898.
Eustis is included in the Orlando Metropolitan Statistical Area, one of the fastest-growing areas in
the nation. Additionally, City leadership has instituted further pro-growth measures such as
development incentives, impact fee waiver programs, annexations, and business recruitment
strategies; as well as marketing, community engagement, livability, and tourism events. These
factors have assisted in producing an average annual taxable value increase for the last four years.
The City will explore any combination of efficiency/cost reduction measures, enhancements in other
revenue streams, and continued pro-growth policy to maintain long-term financial health.
Additionally, the City will continue to benefit from its exceptional climate, geography, small-town
charm, and inclusion in a rapidly growing metro area, which will contribute to healthy growth in the
tax base for decades to come. Due to current City development and rapid population increase, a 2%
annual growth assumption is used.
Franchise Fees, Telecommunication, and other Public Service Taxes - General Fund
Franchise fees are budgeted at $2,207,200 (General Fund Revenue, page 125) and utility service taxes
are budgeted at $3,454,000 (General Fund Revenue, page 125). They are collected from customers
by public service providers and remitted to the City monthly except for the Communication Services
Tax (CST), which was budgeted at $656,000 (General Fund Revenue, page 125). This is a tax on the
purchase of electricity, metered natural gas, and water service. The CST is remitted by telecom
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