2020 Consolidated Major Revenue and Debt Report

CATEGORY 1 - Taxes 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 $324.1 million in fscal year 2020. The County collects several diferent types of taxes such as the ad valorem tax, the infrastructure surtax, the six-cent local option fuel tax, the additional fve-cent local option fuel tax, the fve-cent tourist development tax, the County one-cent voted fuel tax, and the communications services tax. AD VALOREM TAXES General Operating 2020 Budget: $ 189,855,174 2020 Actual: $ 192,412,319 2021 Budget: $ 199,979,509 Debt Service 2020 Budget: $ 10,291 ,668 2020 Actual: $ 10,417,497 2021 Budget: $ 12,077,393 Mosquito Control 2020 Budget: $ 3 ,078 ,005 2020 Actual: $ 3 , 1 1 9 , 972 2021 Budget: $ 3 , 1 7 2 , 4 6 3 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 fscal year 2020, the amount of the tax was determined by the following formula: taxable value of the property/1,000 times 3.4331. 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 fscal year 2020 EMS revenues were $34.0 million and $32.4 million has been budgeted for fscal year 2021. THE FOLLOWING LISTS THE APPROVED MILLAGE RATES FOR FISCAL YEARS 2020 AND 2021. FY 2020 FY 2021 General Operating 3.2075 3.2149 Debt Service 0.1736 0.1941 Mosquito Control 0.0520 0.0510 Sarasota County Total 3.4331 3.4600 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 Ofce. Uses and Restrictions Ad valorem taxes are generally restricted for lawful budgeted purposes which were authorized by the Board of County Commissioners (Board). In general, ad valorem taxes must be used to beneft the public and the County as a whole. The ad valorem tax revenues have been pledged to pay the Limited Ad Valorem Tax Refunding Bonds, Environmentally Sensitive Land Protection Program, Series 2014 and General Obligation Bonds. TOTAL AD VALOREM TAXES $250 200 150 100 50 0 2016 2017 2018 2019 2020 2021 Budget Millions SarasotaClerk.com 7