*Editor’s note: We inadvertently reported the county’s investments included “lights for parks” when it should have said “land for parks.” The error has been corrected in the story below.

OCALA, FL (352today) – Marion County’s business leaders got the community’s annual wellness check with the State of the County address Wednesday morning.

County Commission Chairwoman Michelle Stone along with others made the presentation at the Ocala Metro Chamber of Commerce and Economic Partnership’s monthly meeting at the Reilly Center for the Arts.

Gregory Harrell, the Marion County clerk of court and comptroller, presented a snapshot of the county’s finances.

“I’m pleased to report the financial state of Marion County is healthy and strong,” said Harrell in a video presentation.

At the end of fiscal year 2023, Marion County had a positive net position of $1.9 billion, according to Harrell. That figure reflected an overall increase of $98 million over fiscal year 2022.

County leaders say there a number of taxes that are critical components in providing the economic stability and sustainability the county enjoys.

“Property taxes are the largest single source of funding for Marion County, with tax collections historically averaging between 33 and 35% of the county’s total government revenue,” said Harrell. “Another important source of funding is the infrastructure surtax, which is a one cent sales tax enacted by the Board of County Commissioners and approved by voters in a countywide referendum.”

The proceeds from the surtax are restricted to public safety, capital facilities, capital equipment and transportation infrastructure. During fiscal year 2023, the tax raised $66 million, and the total since 2016 is a staggering $334 million.

“The county’s overall net position also includes a robust cash and investment portfolio of $762 million as of Sept. 30, 2023,” said Harrell. “The county also has $1.7 billion worth of investments in capital assets such as roads, water mains and land for parks, at the end of 2023. The county also has what amounts to $279 worth of total outstanding debt per person in the form of revenue bonds, special assessment bonds, leases payable, IT contracts and notes from direct borrowings.”

County leaders say it’s standard practice to carry the debt for financing the type of large-scale projects and contractual arrangements that the county has active.

“The county’s net position has risen steadily for the past eight fiscal years,” said Harrell.

Chairwoman Stone reinforce that Marion County is living up to its mission statement to be a safe and well-planned community, with a thriving economy that supports a high quality of life for family matters. And, she said the county is concentrating not only on today’s needs but is in the process of shaping tomorrow’s future.

“Our legacy will provide the foundation for the best planned community in the state,” said Stone. “An economy rivaled by none and a place where our families can enjoy life to the fullest. What we do today is always shaping our future.”

Update on Animal Services Facility
Stone says construction on the county’s new animal services facilities will begin in the near future.

Build out is expected to be completed by December 2025. The main facility will be 29,000 square feet, with 19,000 square feet of kennels attached.

The location will be off of State Road 40, west of the 60th Avenue intersection, on 20 acres of donated land.