CRA Revenue
Pursuant to Chapter 163.387, Florida Statutes, a redevelopment trust fund may be established for a community redevelopment area to finance or refinance community redevelopment. Annual funding of the redevelopment trust fund for the community redevelopment area is 95% of the difference between the amount of property taxes levied in the community redevelopment area each year and the amount of property taxes that would have been produced in the community redevelopment area prior to establishment of the trust fund. For fiscal year 2019-2020, the property tax rate levied by the Town of Century is 0.9204 mils and 6.6165 mils by Escambia County.
The original assessed real property values within the Community Redevelopment Agency's area of authority, as of September 11, 2017, was $8,928,032. The total assessed real property values of property withing the boundaries of the Community Redevelopment Agency as of January 1, 2020, is $11,898,284.