Tax rate won’t rise for Bradenton homeowners, but taxes will

A couple of weeks even before the city of Bradenton delves into its 2018-19 budget in upcoming workshops, city officials were comfortable with setting the tentative millage rate at 5.8976.

A mill is $1 for every $1,000 of a property owner’s assessed value and the new budget year begins Oct. 1.

“I believe that’s five straight years we haven’t raised the millage rate,” said Ward 3 Councilman Patrick Roff.

But it’s not the fifth straight year taxes haven’t gone up.

With property values continuing to rise across the county and in Bradenton by 8.5 percent, the city is taking in more money at the same millage rate. The city will still need to calculate its rollback rate, which is the rate that would generate the same amount revenue as last year.

Since the city doesn’t appear to be lowering it’s millage rate, by state law, it’s still considered a tax increase. However, the city has only voted to set the tentative rate, meaning it cannot raise it, but can still lower it as it works through the budget process.

The city is looking at a record budget for the second consecutive year, estimating the proposed budget to be more than $133.7 million.

Workshops are expected through the month of August. A first reading of the new budget is scheduled for Sept. 5, with a final reading and public hearing set for Sept. 19.

This story was originally published July 26, 2018 at 2:24 PM.