One County: study shows Longboat residents in Manatee would save $2.5 million

If Longboat Key was incorporated entirely into Sarasota County, town residents in Manatee County would save about $2.5 million per year in taxes, according to Town Manager Dave Bullock.

In the reverse scenario, meaning the entire town was part of Manatee County county, Bullock said Key taxpayers in Sarasota County would pay an additional $6.2 million.

The numbers come from a Key tax rate analysis for fiscal year 2017, which was conducted by the town and provided to officials of both Sarasota County and Manatee County for review.

“While these numbers may not be final, the methodology has been reviewed by Sarasota County,” Bullock said. “I have not heard back from Manatee yet but am confident that we are pretty close.”

The Key is one of four Florida towns situated in two counties, and the largest by more than 2,000 residents. In May, town staff began exploring the costs, benefits and logistics of becoming incorporated into one county.

The study’s findings:

Manatee County portion of Longboat Key (current)

Millage Rate: 13.8587

Revenue: $21,770,251

Manatee County portion of Longboat Key (if in Sarasota County)

Millage Rate: 12.2478

Revenue: $19,270,753

Total decrease: $2,499,498

Sarasota County portion of Longboat Key (current)

Millage Rate: 12.2478

Revenue: $48,234,996

Sarasota County portion of Longboat Key (if in Manatee County)

Millage Rate: 13.8587

Revenue: $54,505,952

Total increase: $6,270,956

Taxes paid by both counties (current): $70,005,247

Taxes paid by both counties (if in Sarasota): $67,505,749

Taxes paid by both counties (if in Manatee): $76,276,203