City of Sarasota Commission sets reduced preliminary millage rate

City of Sarasota, FL:  After extensive review of the proposed Fiscal Year 2021-22 budget, the City Commission in a unanimous vote Tuesday reduced the millage rate, approving a rollback rate of 3.1372 mills for the City’s preliminary operating millage.

 

The rollback is a reduction from last year’s rate of 3.2632 mills, and based on an anticipated increase in citywide property values, it holds property taxes steady from the previous year.

 

“Our professional City staff worked very hard to present a balanced budget that reflects the priorities of the community and the City Commission,” said City Manager Marlon Brown. “The proposed budget provides the level of service our citizens expect and adjusts for the local economy’s continued recovery and challenges from the COVID-19 pandemic.”

 

The proposed 2021-22 budget fully funds the operations and maintenance of the City’s 62 parks and recreation facilities, despite this being the first year of not receiving an $880,000 subsidy from Sarasota County to aid in the recent transfer of several parks back to the City. It includes funding for at least 12 City-sponsored special events throughout areas of Sarasota, with consideration of adding more at a future date, and funds a new closed-captioning service for broadcasts of all City advisory board meetings.

 

The proposed budget also maintains the same high level of service and public safety with 180 sworn Sarasota Police officers.

 

The budget projects a healthy ending fund balance of about 30 percent – well above the recommended 17-25 percent for local governments – to cover several months of City operations with these excess savings in the event of a disaster or emergency.

 

The assessed value of property increased citywide by 6.43 percent this year, based on the July 1 estimate by the Sarasota County Property Appraiser. Values in the Newtown Community Redevelopment Area increased 7.54 percent and in the new Tax Increment Financing (TIF) district for The Bay increased 16.75 percent.

 

When considering a 3.1372 operating millage rate, the annual tax bill for a homesteaded property with a $200,000 taxable value would be about $500.

 

Two public hearings on the proposed budget are scheduled:

• Wednesday, Sept. 8:  6 p.m.
• Tuesday, Sept. 21:  6 p.m.

 

The proposed budget is available on the City’s website: www.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 later this summer. Taxing authorities, including the City of Sarasota, cannot raise preliminary millage rates once they are established; however, rates can be lowered prior to adoption.

 

For more information, contact Finance Director Kelly Strickland at 941-263-6416.