On Tuesday, the Southwest Florida Water Management District’s (District) Governing Board adopted a $224.8 million budget for fiscal year (FY) 2024, including approximately $92.4 million for Cooperative Funding Initiatives and District grants for water resources projects.
The budget reflects the District’s commitment to protect Florida’s water resources and to improve Florida’s economic vitality. Some of the key initiatives in the District’s FY2024 budget include:
- $65.2 million for development of alternative water supplies to ensure an adequate supply of water resources for all existing and future reasonable and beneficial uses.
- $17.8 million for Watershed Management Program plans to support floodplain management decisions and initiatives, and projects to address potential and existing flooding problems.
- $17.1 million for the management and improvement of critical flood control and water conservation structures, canals, culverts and levees.
- $6.6 million for springs initiatives to improve water quality and clarity of springs and spring-fed rivers as well as restore their natural habitats.
Through cooperative funding partnerships, the District will leverage funds for a total regional investment of more than $175 million for sustainable alternative water supply development, water quality improvements and other water resource management projects.
For the 12th year in a row, the District’s Governing Board has adopted a millage rate equal to or less than the rolled-back millage rate, for a cumulative rate reduction of 48%. The adopted FY2024 millage rate is 0.2043 mill, 9.6% lower than the current fiscal year which will help lessen the tax burden for Florida residents by saving taxpayers more than $13.9 million in property taxes.
For the owner of a $150,000 home with a $50,000 homestead exemption, the District tax would be $20.43 a year, or about $1.70 per month. The fiscal year runs from Oct. 1, 2023, through Sept. 30, 2024.