Commissioners propose slightly higher tax rate to pay off Legacy Trail bond

Sarasota County Commissioners this morning unanimously approved a maximum property tax rate of 3.43 mills for the next fiscal year, which, if left unchanged, would be the first rate increase in 13 years.

Still, the move to 3.43 per $1,000 of taxable property value wasn't entirely unexpected.

In November 2018, more than 70% of  Sarasota County voters approved a $65 million bond referendum to fund the extension of the Legacy Trail. The additional .04 mill is set aside to begin paying that 20-year bond off.

The owner of property with a taxable value of $200,000 would pay $686 in taxes, up from $678 with the previous tax rate. Sarasota County reported a rise in countywide property values of 6.1% 

As county staff finalize the budget over the next month, no other alteration to the rate is expected, though any changes by law cannot exceed the new 3.43 rate.

Commissioners voted unanimously last month to hold the line on the otherwise stable tax rate.