Brevard “State of the County” Update

During my campaign for the District 1 County Commission seat I compiled some data to show the fiscal challenges Brevard County would be facing in the years to come. As you can see from the charts and graphs below, the data for November indicates the recession is quickening in Brevard County.

The information presented here should be a concern for all who live and work here in Brevard – this is especially true for small business owners who are dealing with an incredible slowdown in retail sales and government officials who are facing a significant reduction in property values.

Following shows the median sales price of existing homes in Brevard County. Note that we have lost 49% of home value since the price peaked in August 2005 and have returned to price levels of early 2003.

If government officials think this year’s budget process was tough, what till they see taxable values for January 2009. Kudos to Commissioner Infantini and Commissioner Anderson for voting to abolish the Fire Assessment. Though they were unable to get a third vote, we at least have two commissioners who understand that less government is what we need to provide relief to taxpayers and employees.

Foreclosure filings slowed in November as did the number of homes and condos sold. For the past fifteen consecutive months, the number of foreclosure filings have exceeded the number of homes and condos sold.

Permit applications have nearly stalled falling from 1,043 pulled in June 2005 to 67 for November 2008 (this represents future “added value” to real property).

Retail taxable sales in Brevard County has fallen to levels we have not seen since the late ‘90s.

In what is the most painful aspect of this recession, unemployment has now risen to 7.6% in Brevard County.

As you can see, the figures do not lie – Brevard County faces both difficult times and difficult decisions. Let us hope the new board of commissioners recognizes the county’s predicament and acts swiftly and decisively to do what it can to avert catastrophe.