Some food for thought:
In 2014 we endured the last of 7 years of voted debt to finance basic governmental services. The 08/09 housing bubble crash had reduced taxable property values by over $4 billion, and as such the BOCC incurred debt to offer basic service. *Ignore for a moment that we also had a supplemental sales tax that built a waterpark during this period (amongst other things)- but I digress.
In 2014 our outstanding debt (after 7 years borrowing) was $129 million. That was in addition to a $361 million dollar budget on a $17.2 billion taxable value.
Fast forward to 2024:
Today we have a budget of $637 million on a taxable value of $31.7 billion. For sure we must have paid off that outstanding debt with that massive growth over the last decade!
Alas, we did not. In fact, WE GREW OUT DEBTS by $4 million. That’s right. Outstanding debt is now over $133 million.
What’s the point?
Simple:
Our commission is not willing to prioritize sound fiscal policy over their legacy building purchases. They are all too willing to use your tax dollars to buy their next votes by way of spending on every neighborhood luxury product that a vocal minority demands.
Septic to sewer conversions is regularly back Burner’d while we build mini amphitheaters and train stations.
Failing roads are ignored while we operate a transit system at a cost per rider double that of neighboring counties (and almost 10x that of Indian River).
Where is the fiscal forward planning?
After 10 years of massive property value growth, we should have been paying down debt- catching up on base infrastructure and sprinkling in the occasional treat for a job well done. BUT we have done the opposite. We grew our debt; we built plenty of playthings and we let many infrastructure projects languish.
Home and property values are quickly stabilizing from their massive growth, and the cost to borrow and buy is going up. We squandered the easy time to set up the next generation for success- now we are going to be forced into making hard decisions.
How comfortable do you feel with the current commissioners to act on your behalf? How confident are you that they will prioritize the wellbeing of the residents over the wellbeing of their legacies?
I know what I stand for- and I hope you all will stand with me. Let’s bring common sense back to the commission