County Commissioners Look to Cut Millage Rate
BRADENTON – As property values continue to rise, Manatee County Commissioners have proposed a new spending plan for Fiscal Year 2023, that includes another millage rate reduction.
A reduction of .20 mills would put the new millage rate at 6.3326. A mill equals one-thousandth (1/1000) of a dollar. This change means the county will collect about $10.5 million less in taxes than if it had kept the same rate.
For homeowners, savings could range from $50 per year for a home with an assessed value of $250,000 to $100 for a home assessed at $500,000. It would represent a $65 per year savings for an average household assessed value of $325,000.
In addition to that .2 mill decrease, commissioners unanimously supported a motion to instruct county administration and staff to research opportunities to cut the millage rate even further—with additional .10, .20, and .30 mill decreases possible.
"We will be prepared—well before September 7—to provide you those scenarios," said Manatee County Administrator Scott Hopes. "We have put a substantial amount of money in this budget as an inflation hedge anticipating costs—both labor and materials.”
Property owners will see the new reduced rate in their new trim notices.
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AUG 04, 2022 • That's the double-edged sword of increasing property values. If you can't afford the tax, you have to sell. You'll pocket the appreciation in value, but you can't stay in your home and will have to find a new one.
JUL 31, 2022 • I feel your pain Scott mine was 1800.00 and in a few years it IS up to 3800.00 I can not afford to live here anymore.
JUL 31, 2022 • My property taxes in 2011 was $1,800, and in 2021 it was $3,000. Thanks but no thanks for saving me $50. I guarantee my property values went up again this year, so the $50 won't even make a dent in the delta. That's a slap in the face. Where is fiscal responsibility from this Manatee County Commissioners? We must live within our means; YOU MUST DO THE SAME. Where is fiscal responsibility from this Manatee County Commissioners. We must live within our means, YOU MUST DO THE SAME.