Commission returns from summer break and will hold budget hearing
When the Longboat Key Town Commission returns from its summer recess on Sept. 11, the first order of business will be to hold a public hearing on next year’s $16.55 million spending plan.
“I think it is a well-considered budget,” Mayor George Spoll said Tuesday.
The proposed budget's tax rate will remain at 2.1144 mills, even though property values have boosted the town’s incoming revenue for the upcoming fiscal year by $461,129.
Property values in Longboat rose 3.99%.
By keeping the tax rate the same, a Longboat resident who owns a home with a taxable value of $500,000 would pay a local property tax of $1,057.20. In most cases, a flat rate would mean higher property taxes, but because of decreases in the facilities and beach special district taxes, property owners will see a decrease in their total tax rate.
Both the Sept. 11 meeting and the Sept. 24 meeting, when the budget will be voted on, are scheduled for 5:01 p.m.
Longboat Key’s new fiscal year begins Oct. 1.