Growth comes with costs, Titkanich warns in first Indian River State of the County speech
INDIAN RIVER COUNTY — As population here increases, so does the demand for services and infrastructure. It's an important point new County Administrator John Titkanich wants taxpayers to understand.
“I do believe our county is at a crossroad,” Titkanich said during his first state of the county address Friday. “The University of Florida, Bureau of Economic and Business Research, projects the county population could be 205,000 residents by 2030 or 267,000 residents by 2050. We are currently just over 165,000 residents.”
And accommodating the growing population will increase county expenses, he said.
The average taxpayer in unincorporated Indian River County should see their taxes rise by $67.42, or 3.56%, next year, according to Titkanich, who presented his the update to the Indian River County Chamber of Commerce at the county Intergenerational Recreation Center.
The total county budget for the coming fiscal year is expected to be $506.2 million, Titkanich said.
Some declines in housing
The county is seeing declines in some housing-related areas, Titkanich pointed out. There has been a deceleration in housing starts that began in 2022, applications for single-family building permits have been down revenue from impact fees and recording fees associated with mortgages have declined, he said.
Yet even with this decline, an additional 20,000 residents will expect services and expect to enjoy the quality of life in Indian River County that so many appreciate and value in the community.
“I submit these projections are real and are likely understated for the 2050 projection,” Titkanich stressed. “What is uncertain is whether we will face an economic slowdown or a shallow or extended recession.”
The 2023-24 county budget was developed with a focus on meeting Indian River's current needs while at the same time looking to the future, according to Titkanich.
Economic-environment study on the horizon
“The budget includes funds for strategic planning and completing an economic-environment study,” he said. “A strategic plan sets the course for the county with the future in mind: To what do we aspire or what would we like to accomplish? The economic-environment study leads to an economic-development plan to help us maximize our assets and address challenges to diversify our local economy to attract the appropriate industries that bring higher- wage, valued-added jobs to our county.”
Also Friday, County Commission Chairman Joseph Earman gave the chamber of commerce an overview of projects either completed or in works by the county, including the 43rd Avenue/State Road 60 intersection. And the Florida Department of Transportation, he said, expects to break ground on the new Oslo Road/Interstate 95 interchange in August.
Janet Begley is a local freelance writer for TCPalm.com. If you like articles like this and other TCPalm coverage of Treasure Coast news, please support our journalism and subscribe now.
This article originally appeared on Treasure Coast Newspapers: Growth comes with costs, Titkanich warns
