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.
Currently 0 Responses
1 Sarasota Pizza Wars
11:00 am - 4:00 pm
3 The Arab-Israeli Conflict: The 100-Years War in a Twice-Promised Land
9:30 am - 3:30 pm
3 "Peace, Politics, and Projectiles: An Insider's Look at the War in Gaza and Its Aftermathâ�� With Jerusalem Post Correspondent Gil Hoffman
7:00 pm - 8:30 pm
5 Venice Fall Wellness Fair
9:00 am - 1:00 pm
Ladies enjoy a night out
Women of all ages ditched their heels and slipped on their running shoes for the New Balance Girls Night Out.
Residents help tame lionfish
A total of 251 lionfish were scooped out of the ocean for the inaugural Sarasota Lionfish Derby last weekend.
Let them eat cake!
The staff and residents at The Glenridge on Palmer Ranch celebrated the first resident to become a member of the centennial club.