Sarasota County shows overall property values falling on Longboat

Editor & Publisher

The preliminary property tax values for 2020 are in, and every part of Sarasota County shows an increase with the exception of the Town of Longboat Key.

In a report issued by Sarasota County Property Appraiser Bill Furst, the overall property value for Sarasota County in its unincorporated regions is $65.141 billion, a 4.96 percent increase over last year’s $62.065 billion.

The City of Sarasota is predicted to have gone up 5.23 percent in value over last year from $11.157 billion to $11.741 billion.

The City of Venice shows an increase of 5.84 percent rising from $4.252 billion to $4.501 billion.

Longboat Key is the only municipality in the county that shows a predictive decrease of -3.57 percent. It’s values show a decline from $4.311 billion in 2019 to $4.157 billion in 2020.

These numbers are the preliminary numbers issued by the property appraiser. The final tax values are issued no later than July 1 and form the basis of property tax Trim Notices that are sent to property owners.

The region has generally seen increases of about 7 percent over the last few years.

The formation of the values are determined by the Property Appraiser’s Office partially through using property sales data from 2019. In essence, it is based on recorded real estate transfers in each region.

Last year, the final taxable value for Longboat Key was $1.5 billion higher than its preliminary value. In other words, the number could grow and Longboat may end up with less of a decline.

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