- December 5, 2025
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In a matter of 21 minutes and six unanimous votes, the Sarasota City Commission ended the fiscal year 2026 budget season with its final public hearing and second vote during a Sept. 15 special meeting.
The budget includes a citywide property tax operating millage rate of 3.2730, up from the current fiscal year rate of 3.0 mills, the extra revenue generated to be earmarked to rebuild the city’s fund balance, which has been depleted by hurricane recovery costs.
During prior budget workshops, interim City Manager Dave Bullock told commissioners that the amount of FEMA reimbursements to the city to recoup losses incurred in the 2024 storm season are uncertain, if they are to be remitted at all. Those costs reduced the city’s emergency fund balance from $32 million going into the current fiscal year to $16.8 million, well below the 17% to 25% range of the city’s operating budget.
The just more than one-fourth mill increase over fiscal year is anticipated to generate $5.2 million, which Bullock said is part of his three-year strategy to rebuild the fund balance, this year taking it approximately $22 million, or just more than 20% of the $108.3 million general fund portion of the budget,
There is an additional millage of 0.1348 for debt service payments on general obligation bonds issued in 2015 for a total rate of 3.4078 mills on residential and commercial property assessed values.
“The total proposed city budget is $303,575,000, which is a $2.1 million decrease from the previous year,” Director of Financial Administration Kelly Strickland told commissioners.
In addition to the operating budget, the capital improvement plan and costs for fiscal year 2026 include:
