In total, and without adjusting for inflation, the new state projections shave $11.9 million off of forecasted deficits in the county's general fund.
The state expects real estate values in the county to increase at least 5% each year from the current period through the 2018 fiscal year. The Dec. 13 estimates show a larger increase each year in that timeframe than Aug. 13 state projections, according to an email message from Sarasota County fiscal consultant Karen Fratangelo to Interim County Administrator Tom Harmer.
The DOR expects the largest period of growth from the 2016 to 2017 fiscal years, with a 5.9% jump in taxable values — that's almost a full percentage point greater than predicted earlier this year.
"Nice to see that the state has become a little more optimistic," wrote Sarasota County Commissioner Joe Barbetta in response to the email.
The new projections reduce an expected shortfall in the county's general fund by more than $4 million to $18.6 million in the 2016 fiscal year. The Dec. 13 DOR numbers reduce the expected shortfall for the 2017 fiscal year $3.5 million to $20.1 million, and decrease the following year's expected general fund deficit $4.4 million to $15.7 million.
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26 Sarasota Heat Golf Tournament
26 Comcast Cares Day Sarasota
8:00 am - 4:30 pm
26 Air Fair 2014 Radio Controlled Model Aiplanes
9:00 am - 3:00 pm
26 Mother's Day Free Art Project for the kids
10:00 am - 4:00 pm
Raising the Barr
TideWell Hospice honored veteran and longtime Sarasota resident Kenny Barr Thursday, April 10.
Sarasota resident and Holocaust survivor Jack Brodman will light the memorial candle at this year’s Yom HaShoah, Holocaust Day Remembrance, hosted by Temple Beth Israel.
Temple Beth Sholom’s youth group celebrated Passover with a Chocolate Seder Sunday, April 13.