- December 4, 2025
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On June 1, the town of Longboat Key received the preliminary property estimates from Manatee and Sarasota County property appraisers and, once again, saw a combined increase in property values.
Property values combined from both counties rose 5.39%, from $9.2 billion to $9.7 billion. According to Finance Director Sue Smith, that increase would generate about $930,000 in revenue using the town’s existing mill rate.
Last year, the town’s property values increased about 10.39%, generating an additional $1,580,544 in tax revenue.
The operating mill rate in FY24 and FY25 was 1.9600. This does not include the facility debt and beach debt rates, the latter of which is different for Gulf Side and Bayside properties.
When looking at the counties individually, though, Manatee County property values decreased by 11.15%, from $2.96 billion to $2.63 billion.
Smith assumed this decrease had to do with the impact of Hurricanes Helene and Milton, given the north end saw more property damage than the Sarasota County side.
“The storms took a beating on the Manatee side of things,” Smith said.
The Sarasota County side of Longboat Key, however, saw a significant growth in property values, largely because of the St. Regis Longboat Key property officially on the tax roll for 2025. One of the most expensive condominiums in the St. Regis sold in 2024 for $21.24 million.
Sarasota County values rose 13.26%, from $6.23 billion to $7.1 billion. There was also $521 million in new construction in Sarasota County in 2025, whereas Manatee County had $30 million in new construction.
These estimates will help Smith and the rest of the finance department refine the FY26 budget and progress toward adoption in October.
The next budget workshop is at 10:30 a.m. on Monday, June 23, at the Longboat Key Town Hall (501 Bay Isles Road).
