The property tax cycle discussed below demonstrates Sarasota County’s separation of powers concerning property tax dollars. The property tax bill property owners pay each year for Ad Valorem assessments funds the School Board, Sarasota County and Special Districts. NOVEMBER Tax Collector mails tax bill to property owners and begins collecting payments. NOVEMBER-MARCH Tax Collector distributes property tax collections to local governments and taxing authorities. The Clerk and Comptroller receives those funds and invests them until they are needed to pay bills. JANUARY Property Appraiser determines market value and exemption eligibility, which is used to calculate your property’s taxable value. JULY Based on how much money is needed to cover expenses, the Board and other taxing entities set millage rates, which are used to calculate property taxes. AUGUST-SEPTEMBER Property Appraiser mails a notice of proposed taxes, or Truth in Millage “TRIM” notice. Taxpayers may challenge the assessment by petitioning the Value Adjustment Board “VAB.” Impact Report 2023 9 PROPERTY TAX CYCLE
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