Longboat sets higher maximum tax rate

Longboat Key Town Commission set a higher-than-current maximum millage rate on Monday morning as the town continues to prepare a budget in a climate surrounded by question marks.

At a special meeting in Town Hall,  Town Commissioners voted 5-1 to set the maximum millage at 1.999, an increase from the current 1.960 property tax rate. The increase would raise an additional estimated $747,500 in revenue if approved in September, but town leaders were sure to stress the vote was not a final decision on property tax rates, but only sets the maximum millage the town is legally allowed to set when it finalizes its budget.

The move for a higher tax rate comes as the town begins tentatively planning for a less-involved FEMA and potential property tax changes on the November ballot in Florida. Town Manager Howard Tipton said any additional revenue would be used to rebuild reserves and would not be used to expand operations. Town Commission unanimously agreed with the sentiment.

Town Commissioner Gary Coffin brought a prop to make a case for a 2.0648 millage, saying a “basic $4 million home” would see an increase of $723 dollars with the 2.0648 millage, 

“That’s basically three bottles of a decent wine,” Coffin said with a bottle of Menage et Trois-branded red wine on the dais in front of him.

Commissioners eventually settled on a compromise between keeping the millage the same and raising it above the 2.000 mark, setting it at 1.999. Coffin was the lone vote against the 1.999 millage.

The final tax rate will be set in September.