Public hearings scheduled in September for Longboat Key budget

The town of Longboat Key is in the process of forming next year’s budget, and the public can chime in during two meetings in September.

Longboat Key’s fiscal year begins on the first day of October and ends on the last day of September each year, according to the town’s charter. Public hearings are scheduled at 5:01 p.m. on Sept. 8 and Sept. 22 at Longboat Key Town Hall, where residents can share their thoughts on the proposed budget with Longboat Key Town Commission and town staff.

The recommended 2026 fiscal year budget for the general fund is about $1 million higher in revenue compared to last year (from $23.07 million to $24.25 million), but has decreased general fund spending by about 2.9%, from $24.74 million in 2025 to $24.03 million in 2026.

The millage rate for property taxes for the next fiscal year will remain at 1.9633.

In his letter accompanying the proposed budget, Town Manager Howard Tipton said the town is still recovering from the three-hurricane season of 2024. 

Because of that, the town had to draw down the $15.31 million in reserves it had at the beginning of the 2025 fiscal year by about $8 million while it waits for FEMA and insurance reimbursements. 

However, the proposed budget still has revenues exceeding expenditures by $221,438, which can go toward rebuilding the fund balance. That balance is estimated to be $7.29 million at the end of the 2026 fiscal year.

“Financially, the town is fortunate to have built up its fund balance over the last decade to self-fund this extraordinary three-storm event,” Tipton said in the letter. “Finance has prioritized the pursuit of insurance and FEMA reimbursements, both of which can be a long and time-consuming process.”

The town is expecting a modest increase in revenue, a vast majority of which comes from property taxes, expected to be $18.3 million in 2026, a $1 million increase despite Manatee County property values decreasing 9.96% compared to last year in large part due to the tax rebate program for significantly damaged homes from hurricanes.

“Thankfully, the St. Regis Resort came on-line to the 2025 tax rolls to help offset, with Sarasota County values increasing 13.53%. The combined impact is a 5.96% increase in values generating $1,092,235 of additional revenue at our current mill rate of 1.9600, primarily due to new construction,” Tipton said in his letter.

The town has $41.9 million in debt, $28.7 million coming from the utility undergrounding project, which was recently completed. An amount of $5.9 million of the town’s budget is expected to go toward debt service.

To see the full proposed budget, visit Town-Longboat-Key-FL-Budget-Book.ClearGov.com/20461.

Correction: This story has been updated to clarify expenditures numbers.