Sarasota News Leader

07/04/2014

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The value of property this year for tax pur- poses is 5.35 percent greater for the City of Sarasota, comparing certified tax rolls from 2014 and 2013. The roll is submitted every July 1 by Sarasota County Property Appraiser Bill Furst to the Florida Department of Revenue for review. The consolidated appraisals com- prise the roll and represent a "snapshot" of values on Jan. 1. LESS GOOD NEWS FOR DOWNTOWN Downtown property values lagged behind the overall city increase. The area comprising the Downtown Improvement District (DID) saw assessments increase by a mere 0.62 percent, a statistical blip. Last week, the DID's board of directors was told it had no more money to pursue downtown projects because its budget is tied up in bond payments and maintenance of existing projects. The tax roll also increases when new build- ings are added. With more hotels and retail space in the State Street parking garage under construction in the DID's area, the roll will rise. But because the roll is "frozen" as of Jan. 1, none of the new construction under way downtown will show up on next year's DID tax roll. Some special taxing districts in downtown Sarasota saw larger increases in property values than others. Photo by Norman Schimmel A GROWING CITY TAX BASE THE OVERALL PROPERTY VALUE OF THE CITY OF SARASOTA AND ITS SPECIAL DISTRICTS IS UP MORE THAN 5 PERCENT By Stan Zimmerman City Editor

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