City Commission sets preliminary millage rate
Preliminary operating rate of 3.2632 mills is unchanged from last year
Contact: Jason Bartolone, Communications Specialist 941-928-3988 Jason.bartolone@SarasotaFL.gov
Sarasota, FL: After extensive review of the proposed fiscal year 2019-20 budget, the City Commission on Monday set the preliminary operating millage rate at 3.2632 mills, unchanged from last year’s rate and one of the lowest in the state of Florida.
The City’s new Parks and Recreation District is being funded with a $7.2 million transfer from the general fund, and no additional millage being levied.
The assessed value of property increased citywide by 7.1 percent this year, based on the July 1 estimate. Values in the Newtown Community Redevelopment Area increased just over 8.4 percent with the taxable value at $173,489,435.
With the preliminary operating millage rate of 3.2632 and debt service millage of 0.2339 (a 7.6 percent decrease from last year’s debt service rate), a homeowner with a taxable value of $200,000 would pay $699.42 a year or $58.28 a month in City taxes on their property tax bill.
Only about 25 percent of all Florida municipalities have a lower millage rate.
Two public hearings on the proposed budget are scheduled:
- Tuesday, Sept. 3: 6 p.m. at City Hall
- Monday, Sept. 16: 6 p.m. at City Hall
Anyone interested in speaking about the proposed budget is invited to do so then. The proposed budget and budget workshops can be viewed on the City’s website: SarasotaFL.gov.
The preliminary millage rate will be transmitted to the Sarasota County Property Appraiser, which will compile all proposed millage rates for individual properties and issue a TRIM (Truth in Millage) notice to property owners later this summer. Taxing authorities, including the City of Sarasota, cannot raise preliminary millage rates once they are established; however, rates can be lowered.
For more information, contact Finance Director Kelly Strickland at 941-365-2200, ext. 4124.
About the City of Sarasota: Distinguished by U.S. News and World Report as the 18th Best Place to Live in the U.S., the City of Sarasota is a diverse community located on Florida’s Suncoast with 55,000 year-round residents, several internationally recognized cultural arts venues, stunning sunsets along Lido Beach, a 45-hole municipal golf course at the historic Bobby Jones Golf Club, and Major League spring training baseball with the Baltimore Orioles. Learn more about us at www.SarasotaFL.Gov