Manatee County Commission Moves Forward with .15 Millage Rate Cut, Potential $10.5 Million Revenue Loss

In a 4-2 vote on Thursday, Manatee County Commissioners tentatively approved a proposal to reduce the county's millage rate by .15 mills. If the decision is upheld during the final vote on September 17, the county will see a decrease in annual revenues by approximately $10.5 million. Commissioners Jason Bearden and Kevin Van Ostenbridge spearheaded the initiative, with Bearden emphasizing the importance of reducing the tax burden on residents amid economic challenges.

A millage rate determines how much property tax is levied per $1,000 of taxable property value. For 2024, Manatee County's millage rate stands at 6.2326 mills. The proposed cut would lower it to 6.0826 mills, offering savings of $37.50 to $75 annually, depending on a home's assessed value.

The vote followed multiple motions to further reduce the millage rate, including Bearden's initial push for a .3 mills reduction, which failed due to concerns over funding cuts to essential services. County Chief Financial Officer Sheila McLean warned that a larger reduction would have resulted in service reductions, stating that at the proposed .3 mills, $21 million would need to be slashed from the budget.

Bearden and Van Ostenbridge’s final motion for a .15 mills reduction passed when Commissioner Amanda Ballard broke the tie. Commissioners George Kruse and Ray Turner opposed all three motions. Kruse argued that the millage cut would offer minimal relief to homeowners, while risking the county's ability to address future financial needs. He also raised concerns about the potential impact of the upcoming November vote on Florida’s Amendment 5, which could further reduce property tax revenue.

The discussion of the county's long-term financial health dominated much of the debate. McLean cautioned that the .15 mill cut would place the county at a negative rollback rate of 1.29%, potentially damaging its bond rating and requiring more debt.

Despite these concerns, Van Ostenbridge argued that the reduction, though modest, would demonstrate fiscal restraint. He and Bearden maintained that the county could find ways to absorb the $10.5 million revenue loss without drastically affecting services.

The final decision will be made at a public hearing on September 17, where the FY 2025 budget will also be adopted.