Longboat sets max tax rate for fiscal year 2025

Longboat Key town commissioners voted on June 28 to set the maximum millage for the upcoming fiscal year 2025, which will remain similar to the previous fiscal year. The June 1 estimates showed a combined increase of 9.61% between Sarasota and Manatee counties. Individually, there was expected to be a 7.78% increase in Sarasota County values and a 13.67% increase in Manatee County values. This would have resulted in an additional $1,481,016 in revenue compared to FY24.
The July 1 certified values showed a greater increase. The numbers showed an increase of 10.39% combined between the counties — an 8.55% increase in Sarasota County and 14.47% increase in Manatee County.
The certified values will result in $1,580,544 in additional revenue compared to FY24, and an extra $99,528 that the town hadn’t accounted for when estimating the values.
For the upcoming fiscal year, staff recommended setting the maximum millage at 1.9600. The same millage was assessed in the previous fiscal year. The rate can be decreased at the next hearing in September, but not increased.
Other millage rates for facilities and beach projects add to the overall millage for property owners. Both of those rates go toward debt payments on revenue bonds.
The beach millage decreased slightly from FY24 to FY25. For Gulfside residents, the millage went down from 0.6672 to 0.6071. For Bayside residents, the change was 0.1668 to 1.1518.