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Longboat Key Monday, Aug. 2, 2010 5 years ago

Longboat tax rate rising

by: Kurt Schultheis Managing Editor

Town Manager Bruce St. Denis distributed a recommended budget for fiscal year 2010-11 that recommends a millage rate of 1.8872 mills to balance the budget, which is 10.7% higher than the tax rate of 1.7042 mills he suggested the Town Commission consider in June.

The town’s current tax rate is 1.5 mills. One mill is equal to $1 for every $1,000 of assessed valuation.

In his budget memo dated Aug. 1, St. Denis explains the budget, which is $1,075,772, or 8.17% higher than last year’s adopted budget, is balanced by using an adopted rollback rate of 1.6476 mills, an additional millage of 0.0503 mills to fund two reinstated police positions and an additional 0.1893 mills to fund $965,619 of additional pension costs.

If approved, it will be the town’s third millage increase in 11 years.

For more information, pick up a copy of the Thursday, Aug. 5, edition of The Longboat Observer.

Contact Kurt Schultheis at [email protected].

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