- May 18, 2020
Sarasota County Commissioners on Wednesday unanimously adopted a budget of $1.3 billion and a millage rate of 3.46 for fiscal year 2021.
The general fund budget totals $323 million, up 2.3% from $315 million in fiscal year 2020. The capital fund budget totals $324 million, down 3.4% from $335 million in fiscal year 2020.
The county expects a $7.3 million decrease in general fund revenue this year and a $9.4 million loss to the general fund in 2021 due to COVID-19 losses. County leaders also anticipate a loss of $12.8 million in funds such as the Tourist Development Tax, gas tax and surtax for this year, and $16 million in losses for similar funds in fiscal year 2021.
Commissioners approved a millage rate of 3.46, up 0.0269 mills or .78% from fiscal year 2020. The rate means that a home with a $200,000 taxable value, a person can expect to pay $692 in county taxes.
The increase in millage is due to the voter-approved bonds for the extensions to the Legacy Trail into downtown Sarasota and North Port.
In the 2018 general election, more than 70% of voters approved a referendum allowing the issuance of bonds up to $65 million for the project. A second set of bonds was issued in February, mean the debt service on the bonds will increase in 2021.