Sarasota County Consolidated Major Revenue and Debt Report 2019

T axes are charges levied by the local governmental unit against the income or wealth of a person, natural or corporate. Taxes comprised the second largest revenue source totaling $311.8 million in fiscal year 2019. The County collects several different types of taxes, such as the ad valorem tax, the infrastructure surtax, the six-cent local option fuel tax, the additional five-cent local option fuel tax, the five-cent tourist development tax, the County one-cent voted fuel tax, and the communications services tax. AD VALOREM TAXES General Operating 2019 Budget: $ 178,858,852 2019 Actual: $ 181,867,373 2020 Budget: $ 189,855,174 Debt Service 2019 Budget: $ 6,801,721 2019 Actual: $ 6,916,323 2020 Budget: $ 10,277,484 Mosquito Control 2019 Budget: $ 3,060,818 2019 Actual: $ 3,105,551 2020 Budget: $ 3,078,005 Legal Authorization: Article VII, Section 9 of the State Constitution, Florida Statutes Chapters 192 through 197 and 200, County Ordinances 02-091; 01-099 as amended by 02-058, 02-088, 03-101, 03-042, 04-116, 08-116, and 99-091, as supplemented hereby 08-023. Description: The ad valorem tax is a property tax. For fiscal year 2019, the amount of the tax was determined by the following formula: taxable value of the property/1,000 times 3.3912. Taxes for Environmentally Sensitive Lands are included within the General Operating line item. The Emergency Medical Service (EMS) millage rate was 0.66 which is a separate item from the millage rates shown. The fiscal year 2019 EMS revenues were $32.1 million and $33.5 million has been budgeted for fiscal year 2020. THE FOLLOWING LISTS THE APPROVED MILLAGE RATES FOR FISCAL YEARS 2019 AND 2020: TOTAL AD VALOREM TAXES $250 200 150 100 50 0 2015 2016 2017 2018 2019 2020 Budget Millions SarasotaClerk.com 7 CATEGORY 1 - TAXES FY 2019 FY 2020 General Operating 3.2140 3.2075 Debt Service 0.1222 0.1736 Mosquito Control 0.0550 0.0520 Sarasota County Total 3.3912 3.4331 The methodology for levy, collection, and distribution of ad valorem taxes is a highly regulated activity governed by a variety of statutes including Chapter 200 of the Florida Statutes. The methodology is administered through a variety of regulations in the Florida Administrative Code by the Department of Revenue. The tax is collected by the Tax Collector’s Office. Uses and Restrictions: Ad valorem taxes are generally restricted for lawful budgeted purposes which were authorized by the Board of County Commissioners. In general, ad valorem taxes must be used to benefit the public and the County as a whole. The ad valorem tax revenues have been pledged to pay the Limited Ad Valorem Tax Refunding Bond, Environmentally Sensitive Land Protection Program, Series 2014, and General Obligation Bonds, Series 2019.