HOLMES BEACH – Property owners won’t receive a shock when they receive trim notices the third week in August, but they will see a slight increase in property taxes.
Commissioners voted unanimously to keep the city’s maximum millage rate at 2.25 mills for the 2018-19 fiscal year. Though this is the same rate as last year, property value increases bring city taxes up 6.83 percent over the 2.1062 mills rollback rate, which would bring in the same amount in revenue for the city as last year. The increase brings up the city’s revenue from ad valorem taxes from $3,946,331 in the current fiscal year to $4,255,843 in the 2018-19 fiscal year, which begins Oct. 1.
The millage rate is the amount charged to property owners per $1,000 of taxable property value. Forms submitted to the Manatee County Property Appraiser’s Office show the city with an adjusted taxable value of $1,950,802,312.
After adjustments were made following two public workshops on the budget, City Treasurer Lori Hill presented commissioners with a revised draft budget totaling $15,450,809 including more than $7 million in carryover and reserves.
Two public hearings will be held to discuss and take a commission vote to approve the new fiscal year budget at 6 p.m. on Sept. 13 and 25 at city hall, 5801 Marina Drive.