2015 Annual Report - Sarasota County Property Appraiser

2015 Annual Report - Sarasota County Property Appraiser

2015
Annual Report
A Message from Bill Furst
I am pleased to present the Sarasota County Property Appraiser’s Annual Report to the citizens in our community. The Annual
Report contains an overview of the trends in the market and
taxable values for real and tangible property in Sarasota County.
2015 Market Values in our county saw an overall increase of 9%
over the previous year. Taxable Values also saw an overall increase of 7%. Following the trend of the last two years, 2015
marks the third year there has been an increase in property values since 2007. The resurgence in new construction in the residential and nonresidential market segments significantly contributed to the reported values. This translated into $ 786 million
dollars in new taxable value, including The Mall at University
Town Center and more than 1800 new houses.
My office continually strives to provide fairness to all taxpayers.
To that end, in 2015 we established a formal fraud investigations
unit. This unit, with the assistance of Tax Management and Associates, has begun conducting an audit to ensure only persons
eligible and qualified for the Homestead Exemption receive this
benefit.
We pride ourselves in delivering efficient and friendly service to
the residents of our county, answering questions and bringing
resolution to issues as they arise. Please feel free to contact me
at PA@SC-PA.com with your questions and suggestions.
Sincerely,
Bill Furst, CFA
Sarasota County Property Appraiser
Serving Our Community with Pride and Accountability
2
Table of Contents
Message from Bill Furst………………………………………………………………………… .............
2
Property Market (Just) Values……………………………………………………………….. ..............
4
Property Taxable Values………………………………………………………………………..............
7
Taxing Authorities – Millage Rates ……………………………….……………………… ..................
9
Tangible Personal Property……………………………………………………………………. ..........
12
Property Parcels and Accounts………………………………………………………………. .........
13
Property By Type…………………………………………………………………………………….......
15
Exemptions……………………………………………………………………………………………. ....
16
New Construction………………………………………………………………… ..............................
20
Redevelopment Areas…………………………………………………………………………………
20
Agricultural Use………………………………………………………………………………………….
21
Florida Counties Taxable Value Comparison.…………….………………………………………
22
Manufactured Mobile Homes……………………………………………………………………… ..
23
Government Lands..……………………………………………………………………….. ................
23
Foreclosure Related Activity…………………………………………..............................................
25
Addendum A – Listing of Taxing Authorities…………………………………………. ...................
26
Addendum B -Links…………………………………………………………………..…….………… ...
28
(Data based on 1st Certification of 2015 Assessment Roll on October 5, 2015)
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3
Property Market (Just) Values
It is the responsibility of the Property Appraiser’s Office
to determine the value of all real property and tangible
personal property (e.g. business equipment) as of January 1 of each year. Market (Just) Value is established
through the appraisal process governed by Florida Law.
When determining the Market Value, various factors are
considered, including the amount a willing buyer would
pay a willing seller for the property, the location and
condition of the property, and the income generated
from the property. Foreclosure and distressed sales, although considered, are not included as part of the
analysis. The Market Value is effective as of January 1st
of the current tax year.
Sarasota County
Year
Just Value
2006
$84,021,903,730
2007
$86,073,289,826
2008
$73,097,887,961
2009
$62,269,730,579
2010
$55,668,387,096
2011
$51,987,139,459
2012
$51,423,706,247
2013
$54,470,238,724
2014
$59,884,328,611
2015
$65,508,568,792
Sarasota County Market (Just) Values
$90,000,000,000
$80,000,000,000
$70,000,000,000
$60,000,000,000
$50,000,000,000
$40,000,000,000
$30,000,000,000
$20,000,000,000
$10,000,000,000
$0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Market Value for all properties in Sarasota County saw an
overall increase of almost 9.9 % over the prior year.
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4
Percentage Change
Market Values for Municipalities
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
-10.00%
-20.00%
-30.00%
-40.00%
Sarasota County
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Market (Just) Value Change
City of Sarasota
City of Venice
Town of Longboat Key
City of North Port
City of Sarasota
City of Venice
Town of
Longboat Key
City of North Port
Just Value
%
Just Value
%
Just Value
%
Just Value
%
Just Value
%
($billions) Change ($billions) Change ($billions) Change ($billions) Change ($billions) Change
$84,021 31.05% $15,015 29.99%
$5,577 34.58%
$5,661 15.48%
$6,494 63.21%
$86,073
2.44% $15,349
2.22%
$5,679
1.83%
$5,497 -2.90%
$7,029
8.24%
$73,097 -15.08% $13,662 -10.99%
$4,796 -15.55%
$4,826 -12.21%
$5,221 -25.72%
$62,269 -14.81% $12,005 -12.13%
$4,088 -14.76%
$4,276 -11.40%
$4,162 -20.28%
$55,668 -10.60% $10,693 -10.93%
$3,674 -10.13%
$3,838 -10.24%
$3,616 -13.12%
$51,987 -6.61%
$9,995 -6.53%
$3,451 -6.07%
$3,655 -4.77%
$3,377 -6.61%
$51,423 -1.08% $10,075
0.80%
$3,454
0.09%
$3,583 -1.97%
$3,377
0.00%
$54,470
5.93% $10,545
4.67%
$3,667
6.17%
$3,698
3.21%
$3,683
9.06%
$59,884
9.94% $11,367
7.80%
$3,967
8.18%
$4,037
9.17%
$4,116 11.76%
$65,508
9.39% $12,487
9.85%
$4,310
8.65%
$4,257
5.45%
$4,619 12.22%
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5
Average Market Values
Sarasota County
Single Family Residential Parcels
Average Market Value
Year Avg. Market Value % Chg
Sarasota County
Residential Condominium Parcels
Average Market Value
Year Avg. Market Value % Chg
2006
$352,656
30.1%
2006
$359,882
19.2%
2007
$342,104
-3.0%
2007
$350,991
-2.5%
2008
$282,357
-17.5%
2008
$299,833
-14.6%
2009
$224,342
-20.5%
2009
$253,218
-15.5%
2010
$201,294
-10.3%
2010
$225,781
-10.8%
2011
$186,085
-7.6%
2011
$211,327
-6.4%
2012
$183,870
-1.2%
2012
$207,741
-1.7%
2013
$201,459
9.6%
2013
$217,168
4.5%
2014
$221,902
10.1%
2014
$239,453
10.3%
2015
$240,248
8.3%
2015
$253,717
6.0%
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6
Property Taxable Values
Taxable Value results from subtracting any applicable exemptions from Assessed
Value. Taxable Value is used for tax levying purposes by the various taxing authorities. The property appraiser has no jurisdiction or responsibility for tax rates, district
budgets, special assessments and fees or amount of taxes paid.
Sarasota County Taxable Value
$70,000,000,000
Value in Billions
$60,000,000,000
$50,000,000,000
$40,000,000,000
$30,000,000,000
$20,000,000,000
$10,000,000,000
$0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
The Taxable Value for all
properties in Sarasota
County saw an overall increase of 7.1%.
Serving Our Community with Pride and Accountability
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Sarasota County
Taxable Value
%
($billions)
Change
$58,915,000,000 26.83%
$62,663,000,000
6.36%
$53,151,000,000 -15.18%
$46,539,000,000 -12.44%
$42,205,000,000 -9.31%
$39,563,841,560 -6.26%
$39,129,815,981 -1.10%
$40,755,531,807
4.15%
$43,458,351,313
6.63%
$46,542,124,786
7.10%
7
Taxable Value by Municipality
Taxable Value by Municipality
$12,000,000,000
Value in Billions
$10,000,000,000
$8,000,000,000
City of Sarasota
$6,000,000,000
City of Venice
$4,000,000,000
Town of Longboat Key
City of North Port
$2,000,000,000
$0
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
City of Sarasota
Taxable Value
%
($billions)
Change
$9,716,000,000 27.93%
$10,335,000,000
6.37%
$9,217,000,000 -10.82%
$8,178,000,000 -11.27%
$7,344,000,000 -10.20%
$6,842,000,000 -6.84%
$6,874,850,905
0.48%
$7,193,319,655
4.63%
$7,595,478,127
5.59%
$8,108,153,696
6.75%
Town of Longboat Key
Taxable Value
%
Year ($billions)
Change
2006 $4,737,000,000 14.06%
2007 $4,728,000,000 -0.19%
2008 $4,234,000,000 -10.45%
2009 $3,821,000,000 -9.75%
2010 $3,503,000,000 -8.32%
2011 $3,345,000,000 -4.51%
2012 $3,304,226,339 -1.22%
2013 $3,403,659,704
3.01%
2014 $3,559,419,377
4.58%
2015 $3,719,166,269
4.49%
Serving Our Community with Pride and Accountability
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
City of Venice
Taxable Value
%
($billions)
Change
$4,150,000,000 35.71%
$4,366,000,000
5.20%
$3,652,000,000 -16.35%
$3,169,000,000 -13.23%
$2,860,000,000 -9.75%
$2,710,000,000 -5.24%
$2,699,179,213 -0.40%
$2,824,395,182
4.64%
$3,024,552,251
7.09%
$3,228,144,657
6.73%
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
City of North Port
Taxable Value
%
($billions)
Change
$4,931,000,000 66.81%
$5,627,000,000 14.11%
$3,819,000,000 -32.13%
$2,962,000,000 -22.44%
$2,486,000,000 -16.07%
$2,278,000,000 -8.37%
$2,266,049,616 -0.52%
$2,413,705,627
6.52%
$2,646,084,282
9.63%
$2,887,472,753
9.12%
8
Taxing Authorities Millage Rates
There are more than 50 different taxing authorities within Sarasota County. On an annual basis, each Taxing
Authority establishes a millage rate
by dividing their proposed budget by
the taxable value less the value of
new construction. The millage rate is
then multiplied by the taxable value
of each property located within the
taxing district. These taxes are referred to as Ad Valorem Taxes and
the revenues generated are used to
support the operation and services
provided by each of the taxing authorities. Each year the newly proposed millage rates are published on
the Notice of Proposed Property Taxes (TRIM or Truth in Millage) sent to
property owners during the month of
August. It is important to review the
TRIM Notice since it provides details
about the proposed millage rates,
the new appraised values, and exemption information. The TRIM Notice provides the date, time and
place of the taxing authority’s budget hearing as well as contact information.
2015 Millage Rates for County-wide Services
Sarasota County Ad Valorem Taxes
Taxing Authority
Millage
General Revenue
3.1983
Debt Service
0.1458
Mosquito Control
0.0471
Sarasota Memorial Hospital
1.0525
SW FL Water Mgmt District
0.3488
West Coast Inland Navigation District
0.0394
School Board
7.7630
Total
12.5949
Millage rates total does not include EMS services
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9
Tax Distribution
Where does my 2015 Tax Dollar Go?
General Revenue
26%
School Board-District
Fund
62%
Debt Service
1%
Mosquito Control
0%
Public Hospital
Board
8%
SW FL Water Mgmt
District
West Coast Inland 3%
Navigation
0.3%
In addition to the county-wide millage rates, there are ad valorem rates
specific to each municipality and certain neighborhoods. Each of the
taxing authorities serving a particular property is listed on the TRIM Notice
and on the tax bill.
2015 Additional Millage by Municipality
Taxing Authority
General Revenue
Debt Service
Total
City of
Sarasota
3.1728
0.3253
3.4981
City of
Venice
3.1000
0.1770
3.277
Town of
City of
Longboat Key North Port
2.13
3.5974
0.0576
-2.1876
3.5974
Note: One mill equals $1 per $1,000 (.001). For example, a tax rate of 12.6597 mills is 1.26597% (0.0126597) of
Taxable Value.
Serving Our Community with Pride and Accountability
10
Top Ten Taxpayers
Top Ten 2015 Ad Valorem Taxpayers in Sarasota County
Principal Taxpayers*
1
2
3
4
5
6
7
8
9
10
Florida Power & Light Co
TB Mall at UTC LLC
Verizon Florida LLC
Sarasota Shoppingtown LLC
Publix Super Markets Inc
Glenridge on Palmer Ranch Inc
Wal-Mart Stores East, LP
Sarasota Doctors Hospital Inc
Venice HMA LLC
SNF Property LLC
Total
Taxable Value
Percentage of Total
County Tax Roll
$400,485,300
$187,818,300
$106,330,764
$93,704,133
$86,270,653
$82,103,698
$75,260,503
$70,735,483
$68,656,105
$55,483,492
$1,226,848,431
0.86%
0.40%
0.23%
0.20%
0.19%
0.18%
0.16%
0.15%
0.15%
0.12%
2.64%
*Sum of all properties/accounts for the principal taxpayer.
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11
Tangible Personal Property (TPP)
2015 Tangible Personal Property By Municipality
Municipality
Taxable Value
City of Sarasota
City of Venice
Town of LongBoat Key
City of North Port
Total Sarasota County
$265,990,735
$165,696,286
$24,307,351
$113,071,487
$1,528,640,821
2014
$267,702,242
$166,684,711
$25,925,824
$112,353,695
$1,452,311,359
Tangible Personal Property
Sarasota County
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Market Value Taxable Value
($Billions)
($Billions)
$2.32
$2.55
$2.52
$2.31
$2.19
$2.06
$1.97
$2.10
$2.16
$2.34
$1.95
$2.14
$1.87
$1.72
$1.59
$1.49
$1.39
$1.40
$1.45
$1.53
Serving Our Community with Pride and Accountability
% Change
over prior
year
-0.6%
-0.6%
-6.2%
0.6%
5.3%
●
●
% of Total
17.4%
10.8%
1.6%
7.4%
3.3%
●
Tangible Personal Property
(TPP) is everything other than
real estate used in business.
All businesses, regardless of
size, must file a TPP return.
●
●
●
12
Property Parcels and Accounts
Sarasota County Parcels and Accounts
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Real Property
Tangible Pers Property
Total Parcels
# Parcels % Change # Parcels % Change # Parcels % Change
261,252
264,901
267,763
268,125
267,950
268,077
268,135
268,940
269,576
274,116
2.8%
1.4%
1.1%
0.1%
-0.1%
0.0%
0.0%
0.3%
0.2%
1.7%
37,157
36,758
36,596
34,597
33,250
32,274
31,597
31,813
31,766
30,599
1.0%
-1.1%
-0.4%
-5.5%
-3.9%
-2.9%
-2.1%
0.7%
-0.1%
-3.7%
298,505
301,755
304,443
302,833
301,200
300,351
299,732
300,753
301,342
304,715
2.6%
1.1%
0.9%
-0.5%
-0.5%
-0.3%
-0.2%
0.3%
0.2%
1.1%
2015 Distribution of Total Real Property
Parcels by Municipality
10%
55%
6%
2%
City of Sarasota
27%
City of Venice
Town of Longboat Key
City of North Port
Unincorporated
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13
Property Parcels and Accounts
Sarasota County Single Family
Residential Parcel Count
Year
2006
2007
2008
2009*
2010
2011
2012
2013
2014
2015
# Parcels % Change
122,145
128,023
129,911
129,017
129,360
129,893
130,357
131,025
132,225
133,627
4.4%
4.8%
1.5%
-0.7%
0.3%
0.4%
0.4%
0.5%
0.9%
1.1%
Sarasota County
Condominium Parcel Count
Year
2006
2007
2008
2009*
2010
2011
2012
2013
2014
2015
# Parcels % Change
51,571
53,454
55,465
50,423
50,284
50,254
50,387
50,507
50,550
50,705
7.3%
3.7%
3.8%
-9.1%
-0.3%
-0.1%
0.3%
0.2%
0.1%
0.3%
*Per instructions from the Florida Department of Revenue, beginning in 2009, single family residential parcels with a second dwelling were reclassified to multi-family use 10 units or less.
** Per instructions from the Florida Department of Revenue, in 2009 approximately 4000 commercial condominium parcels were reclassified from Condominium use to Commercial/
Industrial use. Beginning in 2009 the condominium parcel count reflects only residential units.
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14
Property by Type
2015 Parcel Counts and Values
Sarasota County Real Property Parcels and Values
Property Type
Parcel Count
Market Value
Taxable Value
% of Total
Taxable Value
Residential Properties
Vacant Residential
53,909
$1,224,326,800
$1,047,812,738
2.33%
133,627
$32,103,619,500
$22,767,496,918
50.58%
11,853
$738,432,300
$510,207,233
1.13%
4,094
$1,727,255,000
$1,308,849,266
2.91%
50,705
$12,864,716,300
$10,789,494,816
23.97%
365
$77,842,500
$71,272,432
0.16%
254,553
$48,736,192,400
$36,495,133,403
81.08%
162
$573,964,900
$479,809,398
1.07%
2,861
$464,187,100
$333,275,489
0.74%
968
$261,445,900
$251,441,430
0.56%
8,106
$6,358,783,400
$5,767,854,663
12.81%
350
$30,732,000
$30,150,643
0.07%
2,216
$863,619,100
$829,122,029
1.84%
Agricultural
930
$1,053,229,900
$70,297,187
0.16%
Institutional
782
$1,742,280,100
$554,301,047
1.23%
Government
823
$2,709,357,700
$3,112,545
0.01%
21
$10,415,000
$3,478,047
0.01%
2,143
$217,663,800
$67,958,885
0.15%
199
$145,835,600
$126,164,751
0.28%
19,561
$14,431,514,500
$8,516,966,114
18.92%
274,114
$63,167,706,900
$45,012,099,517
100.00%
Single Family Homes
Mobile Homes
Multi-Family <10 Units
Condominiums
Cooperatives
Residential Sub-Total
Non-Residential Properties
Multi-Family >10 Units
Retirement Homes & Misc. Res.
Vacant Commercial
Improved Commercial
Vacant Industrial
Improved Industrial
Leasehold Interest
Miscellaneous
Non-Agricultural Acreage
Non-Residential Sub-Total
Totals
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15
Exemptions
The Constitution of the State of Florida provides for
a number of property exemptions that may reduce
the taxable value of a property. Both the property
and its residents must meet the qualification requirements as of January 1 of the year for which
they are applying. Exemptions usually require the
filing of an original application by March 1 of the
year the exemption is first requested. Some exemptions are automatically renewed in subsequent
years, while others require annual application and
confirmation.
Visit our website at www.SC-PA.com for more information on qualifying and applying for the property
exemptions and discounts.
2015 Exemptions & Classified Use Values
Sarasota County
Type
$25,000 Homestead Exemption
Additional $25,000 Homestead Exemption
Save Our Homes Cap Differential
Non-Homestead 10% Cap Differential
Seniors Exemption
Governmental Exemption (Real & Tangible)
Organizational Exemption (Real & Tangible)
Tangible Personal Property Exemption
Value
$2,769,948,137
$2,390,802,898
$5,856,461,514
$1,828,402,825
$7,740,521
$3,613,799,947
$1,160,982,413
$146,660,208
Agricultural Classification:
Market Value
Assessed Value
Classified (Exempt) Value
$981,198,500
$20,614,800
$960,583,700
Agriculture is not an exemption but rather a classification
of property assessed at a lower rate than market value.
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16
Exemptions
Homestead Exemption
40% of parcels in Sarasota County enjoy
the benefit of a homestead exemption,
making it the most prevalent property exemption. Every person who owns and resides on real property in Florida on January
1 and makes the property their permanent
residence is eligible to receive a homestead exemption of up to $50,000. The first
$25,000 exemption applies to all property
taxes, including school district taxes. The
additional exemption of up to $25,000 applies to the assessed value between
$50,000 and $75,000 and only to nonschool taxes.
Homestead Exemptions
Sarasota County
Year
Number of
Exemptions
% Change
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
113,588
116,116
116,852
115,705
113,981
112,148
110,445
109,965
109,737
110,975
1.53%
2.23%
0.63%
-0.98%
-1.49%
-1.61%
-1.52%
-0.43%
-0.21%
1.13%
Save Our Homes Cap
The “Save Our Homes” (SOH) Cap provision
puts a limit on the annual increases to the
Assessed Value of homestead exempt property. It works by limiting annual increases in
Assessed Value to no more than 3% or the
amount of the Consumer Price Index, whichever is less. However, new construction is
added at market value on the year after the
improvements are done. On the first year
the homestead exemption is granted, the
Market Value and Assessed Value are
equal. Thereafter, the increase in Assessed
Value is limited by the annual SOH percent
increase. The difference between Market
Value and the capped Assessed Value is often called the “Save Our Homes” cap.
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`
Cap Rate History
Roll Year
SOH Cap
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
3.0%
2.5%
3.0%
0.1%
2.7%
1.5%
3.0%
1.7%
1.5%
0.8%
17
Exemptions
Among the 110,975
h o m e s t e a d
exempt
parcels,
89% realized an
added Save Our
Homes differential.
The
average
amount of a Save
Our Homes cap for
a property with
differential in our
county in 2015 was
$59,257.
Total Save Our Homes Cap Values & Differential
Sarasota County
Year
Differential
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
$16,369,486,988
$14,262,191,478
$7,991,870,553
$3,896,478,359
$2,215,896,974
$1,559,393,662
$1,459,410,907
$2,735,273,004
$4,458,069,236
$5,856,461,514
Differential
% Change from
% of
Parcels
% change
Prior Year Average Homestead Homestead
with
from prior
Parcels with Differential
Parcels Parcels with
Differential
year
Differential
Differential
68%
-13%
-44%
-51%
-43%
-30%
-6%
87%
205%
31%
101,627
97,200
81,880
59,523
43,096
29,331
31,196
90,277
98,844
98,831
Serving Our Community with Pride and Accountability
3%
-4%
-16%
-27%
-28%
-32%
6%
189%
217%
0%
$161,074
$146,730
$97,605
$65,462
$51,418
$53,165
$46,782
$30,299
$45,102
$59,257
113,588
116,116
116,852
115,705
113,981
112,148
110,445
109,965
109,737
110,975
89%
84%
70%
51%
38%
26%
28%
82%
90%
89%
18
Portability and 10% Cap
Portability
Since 2009 property owners have
been able to transfer or port their
accumulated Save Our Homes
cap differential value from their
prior homestead exempt property
to their new homestead exempt
property anywhere in the State of
Florida.
2015 Homestead Portability
Municipality
Parcels
Total Ported Value
City of Sarasota
249
$18,128,360
City of Venice
129
$3,177,787
Town of Longboat Key
30
$2,264,977
City of North Port
284
$5,300,270
2,232
$78,600,694
All Sarasota County
10% Assessment Limitation Cap
A 10% Assessment Limitation Cap on the Assessed Value of non-homestead residential and non-residential properties became effective with the 2009 Assessment
Roll. The limitation remains with the property until a change of ownership or control
of more than 50% occurs. The Legislature adopted statutes to implement this constitutional provision.
Residential 9 units or less
(193.1554)*
Year
Differential
2010
$37,960,089
2011
$53,690,429
2012 $101,114,411
2013 $408,923,560
2014 $833,371,675
2015 $1,001,936,288
Parcels with Average
Differential Differential
2,238
3,065
5,454
54,599
82,374
67,936
$16,961
$17,517
$18,539
$7,490
$10,117
$14,748
Residential 10 units or more &
Non-Residential (193.1555)**
Year
Differential
2010
2011
2012
2013
2014
2015
$55,033,503
$48,862,001
$258,593,855
$223,967,190
$377,704,910
$826,466,537
Parcels with Average
Differential Differential
762
731
1,378
1,278
2,477
3,557
$72,222
$66,843
$187,659
$175,248
$152,485
$232,349
*Section 193.1554 applies to non-homestead residential property with no more than 9 dwelling units and to vacant property zoned for residential uses. New construction is added at market value on the year after the improvements are done.
**Section 193.1555 applies to all residential properties with 10 units or more and all non-residential properties. It provides for
the reassessment of the property and resetting of the 10% cap when a qualifying improvement increases the market value
of the property by at least 25%.
Serving Our Community with Pride and Accountability
19
New Construction
Market Value New Construction
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
City of Sarasota
$469,833,291
$249,283,018
$286,390,210
$81,628,711
$16,468,000
$44,003,910
$27,382,850
$84,899,501
$104,030,394
$133,009,417
City of Venice
$215,654,670
$124,875,116
$80,990,954
$25,367,894
$5,504,700
$6,517,710
$16,651,450
$35,879,416
$59,558,334
$65,466,445
Town of
Longboat Key
$17,278,000
$9,643,700
$30,913,802
$22,682,395
$1,449,900
$2,121,600
$1,626,900
$28,341,611
$22,995,861
$21,690,182
City of North
Sarasota County
Port
$496,820,750
$672,888,030
$254,641,311
$97,098,937
$44,235,850
$23,834,445
$22,992,000
$47,312,359
$58,233,514
$87,122,795
$2,010,808,537
$2,281,584,757
$1,156,765,086
$553,617,577
$170,451,100
$181,112,205
$174,669,150
$454,299,558
$586,245,422
$948,650,840
Taxable Value New Construction
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
City of Sarasota
$466,527,344
$246,157,097
$271,774,227
$73,404,748
$14,215,110
$11,936,033
$22,336,208
$72,048,063
$48,993,270
$61,535,050
City of Venice
$211,074,492
$122,491,362
$75,946,369
$25,890,400
$5,201,905
$5,977,430
$15,386,140
$32,716,606
$52,311,694
$52,124,816
Serving Our Community with Pride and Accountability
Town of
Longboat Key
$17,238,835
$9,618,593
$30,564,564
$22,878,102
$1,403,352
$2,096,337
$1,626,900
$27,839,141
$21,731,431
$19,862,171
City of North
Sarasota County
Port
$473,633,357
$651,152,704
$193,762,214
$68,626,459
$23,158,094
$21,956,308
$18,653,901
$38,356,080
$46,948,096
$72,143,634
$1,933,152,499
$2,232,610,399
$1,025,946,443
$500,441,368
$137,945,088
$135,761,216
$149,968,549
$397,162,357
$454,840,711
$786,445,361
20
Redevelopment Areas
The Community Redevelopment Act of 1969 was created by the State Legislature
so that county and municipal governments could address the deteriorating and
adverse conditions of specific communities and neighborhoods. It allows the local
government to designate a Community Redevelopment Area (CRA) if that area
meets certain criteria such as the presence of substandard or inadequate structures, a shortage of affordable housing, inadequate infrastructure, or inadequate
parking or roadways. The purpose of a CRA is to allow a portion of the tax dollars
to be used specifically for redevelopment purposes in the designated area. Funding of these projects begins with Tax Increment Financing (TIF), which is a method
for leveraging public dollars to stimulate private investment in the CRA district. The
dollar value of all property in the CRA is determined as of a given date and
“frozen”. All tax revenues generated from any increases in real property values
(over the frozen value) are used for redevelopment efforts in the CRA district.
1SCOPE,
Community Changes Redevelopment & Infill Study Group Report, spring 2004.
Serving Our Community with Pride and Accountability
21
Redevelopment Areas in Sarasota County
Community Redevelopment Area
2015 Taxable Value
Base Year Taxable Value
City of Sarasota (City Value)*
$1,876,199,518
$411,676,160 (1986)
City of Sarasota (County Value)*
$1,876,379,018
$411,676,160 (1986)
Englewood (County Value)
$1,015,478,498
$538,174,830 (1999)
Newtown (City Value)*
$116,234,721
$176,044,120 (2008)
Newtown (County Value)*
$116,504,982
$176,044,120 (2008)
*Note: The current difference between City and County taxable value is due to the availability
of different tax exemptions for City and County.
Agricultural Use
120,000
Acres Classified as Agricultural
Land
Sarasota County
110,000
100,000
90,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Agricultural Classified Land
Sarasota County
Year
Parcels
Acres
% of Total
County Land
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
810
837
866
901
911
944
942
943
940
930
115,370
115,114
108,201
107,768
108,130
104,181
103,843
102,892
101,396
99,006
31.5%
31.4%
29.5%
29.4%
29.5%
28.5%
28.4%
28.1%
27.7%
27.1%
Serving Our Community with Pride and Accountability
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Florida Counties - Taxable Value Comparison
Top 20 Florida Counties - Taxable Value
Rank
County
Total Taxable Value*
% Change
1
Dade (Miami)
$230,429,191,490
9.59%
2
Palm Beach (W Palm Beach)
$152,661,150,295
9.46%
3
Broward (Ft. Lauderdale)
$150,678,233,275
7.11%
4
Orange (Orlando)
$100,929,533,676
11.70%
5
Hillsborough (Tampa)
$73,610,298,821
7.52%
6
Collier (Naples)
$70,155,421,656
8.60%
7
Pinellas (Clearwater)
$63,693,960,831
6.72%
8
Lee (Ft. Myers)
$62,724,329,455
7.51%
9
Duval (Jacksonville)
$52,548,406,192
5.25%
10
Sarasota
$46,581,289,266
7.19%
11
Brevard (Titusville)
$29,696,507,254
6.10%
12
Manatee (Bradenton)
$28,089,361,787
8.10%
13
Seminole (Sanford)
$27,124,970,221
5.78%
14
Volusia (Daytona Beach)
$27,098,762,014
5.68%
15
Polk (Lakeland)
$26,985,777,448
6.28%
16
Monroe (Key West)
$20,254,421,223
0.00%
17
Pasco (Dade City)
$21,369,674,657
4.89%
18
Saint Johns (St. Augustine)
$20,258,199,821
9.03%
19
Osceola (Kissimmee)
$19,552,603,554
7.45%
20
Martin (Stuart)
$18,630,861,777
5.18%
$1,495,902,132,886
7.49%
Statewide
*FDOR data for 2015 is preliminary only and may not reflect the final values.
Serving Our Community with Pride and Accountability
23
Manufactured (Mobile) Homes
A manufactured home may be classified as either
real property or as a motor vehicle. If the manufactured home owner owns or has beneficial interest to
the land where the home is located the home is
considered real property and valued as an improvement to the land. In this case, the resident
owner may be eligible for a homestead exemption.
Typically, manufactured homes in Resident Owned
Communities are valued as real property when the
owner of the home becomes a stock member of
the community and receives a 99-year proprietary
lease. If the land is rented, the manufactured home
is considered a motor vehicle and the attachments
to the home (carports, screen porch, etc.) are classified and placed on the assessment rolls as tangible
personal property.
Manufactured Homes
Real Property
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Parcel Count
11,471
11,557
11,605
11,651
11,647
11,656
11,780
11,799
11,818
11,834
11,853
Government Lands
Sarasota County is
571.55 square miles in
size. Of this, 30% or
roughly 175 square
miles is government
owned property
(excluding public rightof-ways and river/
waterway bottoms).
Government Authority
Acres
State of Florida*
50,847
Sarasota County
Municipal
Political Subdivision
47,937
6,951
2,230
School Board
1,928
Sarasota/Manatee Airport Authority
Public Hospital Board
Federal
Serving Our Community with Pride and Accountability
211
378
340
24
Foreclosure Related Activity
Recorded Certificates of Title
600
2000 Base Year
500
2007
2008
400
2009
2010
300
2011
2012
200
2013
100
2014
2015
0
Jan
Feb
Mar
Apr
May
June
July
Certificates of Title 1
Year
2000 Base
2007
2008
2009
2010
2011
2012
2013
2014
2015
#
464
993
2,614
2,088
3,098
1,901
2,199
2,583
2,536
1,473
Aug
Sept
Oct
Nov
Dec
Lis Pendens2
Year
2000 Base
2007
2008
2009
2010
2011
2012
2013
2014
2015
#
1,220
5,097
9,088
9,203
5,431
3,424
4,628
2,948
1,914
1,011
1 Note:
Not all recorded Certificates of Title are a result of foreclosure. This data represents trending of recorded
Certificates of Title only.
2 Note:
Not all recorded Lis Pendens lead to a foreclosure. Recorded Lis Pendens include notices of withdrawn Lis
Pendens and Governmental notices of condemnation proceedings. This data represents trending of recorded Lis
Pendens only.
Serving Our Community with Pride and Accountability
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Addendum A - Ad Valorem Taxing Authorities
Abbreviation
Sarasota County
County Debt
County Msqt
Hospital Board
SWFWMD-District
WCIND
SB State Law
School Board
City of Sarasota
Cit Sara Db
City of Venice
Cit Ven Db
Town of Longboat Key
Longboat Key Debt
City of North Port
CC Sarasota
Villge Green
Kensngton Pk
Nokomis East
Col Terr/Gld
Glf Gate Wds
Englewood Wt
South Gate
LBK A Debt
Englwood Lt
Siesta Ky Lt
Gulf Gate Lt
LBK B Debt
Ven Gardens
Warm Min Spr
River Forest
Denham Acres
Oyster Bay
Rdgwd Estate
Shadow Lakes
So Gate Rdge
Rvervew Man
Southpointe
Full Description
Sarasota - Operating
Sarasota County Debt Service
Sarasota County Mosquito Control
Sarasota County Public Hospital Board
Southwest Fl. Water Management Dist. - District
West Coast Inland Navigation District
School Board - State Law
School Board - Local Board
City of Sarasota
City of Sarasota Debt Service
City of Venice
City of Venice Debt Service
Town of Longboat Key
Town of Longboat Key Debt Service
City of North Port
Country Club of Sarasota Lighting
Village Green Lighting
Kensington Park Lighting
Nokomis East Lighting
Colonial Terrace/Golden Acres Lighting
Gulf Gate Woods Lighting
Englewood Water
South Gate Lighting
Longboat Key Erosion Control District A Debt Serv
Englewood Lighting
Siesta Key Lighting
Gulf Gate Lighting
Longboat Key Erosion Control District B Debt Serv
Venice Gardens Lighting
Warm Mineral Springs Lighting
River Forest Lighting
Denham Acres Lighting
Oyster Bay Lighting
Ridgewood Estates Lighting
Shadow Lakes Lighting
South Gate Ridge Lighting
Riverview Manor Lighting
Southpointe Shores Lighting
Serving Our Community with Pride and Accountability
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Addendum A - Ad Valorem Taxing Authorities
Abbreviation
Forest Lakes
East Park
Overbrook Gd
Nrthgate Ctr
Ctr Gate Wd
Bay Vista Bv
Clark Rd Ind
Bay Point
Phillippi Gd
So Venice Lt
Jacaranda W
Uplands
Sunrise Golf
Venetian Gdn
North Casey
Ctr Gate Est
Aqualane Est
PineCraft Lighting
Sarasota EMS
St Armands
Waterwy MSTU
Goldgate
GoldGate Dt
SiestaVilPID
Downtown Imp
Full Description
Forest Lakes Lighting
East Park Lighting
Overbrook Gardens Lighting
Northgate Center Lighting
Center Gate Woods Lighting
Bay Vista Blvd Lighting
Clark Road Industrial Lighting
Bay Point Lighting
Phillippi Gardens Lighting
South Venice Lighting
Jacaranda West Lighting
Uplands Lighting
Sunrise Golf Club Lighting
Venetian Gardens Lighting
North Casey Key Public Improvement
Center Gate Estates Lighting
Aqualane Estates Lighting
PineCraft Lighting
Sarasota County Emergency Medical Services Dist
St Armands Special Business Neighborhood Imp Dist
Sarasota County Navigable Waterways Maint MSTU
Golden Gate Point Streetscape Special District
Golden Gate Point Streetscape Debt Service
Siesta Key Village Public Improvement District
Downtown Improvement District
Serving Our Community with Pride and Accountability
27
Addendum B - Links
Government
Sarasota County www.scgov.net
Office of Financial Planning (Economic Reports) https://www.scgov.net/
Finance/Pages/default.aspx
City of North Port www.cityofnorthport.com
City of Sarasota www.sarasotagov.com
City of Venice www.venicegov.com
Town of Longboat Key www.longboatkey.org
Elected Officials
Clerk of the Circuit Court and Comptroller www.sarasotaclerk.com
County Commission https://www.scgov.net/BCC/Pages/default.aspx
Sarasota County Property Appraiser www.sc-pa.com
Sarasota County Sheriff’s Office www.sarasotasheriff.org
Supervisor of Elections www.sarasotavotes.com
Tax Collector www.sarasotataxcollector.com
Community
Visit Sarasota County www.visitsarasota.org
Community Foundation of Sarasota County www.cfsarasota.org/
Economic Development Corporation of Sarasota County
www.edcsarasotacounty.com
Sarasota Associaton of Realtors www.sarasotarealtors.com
Englewood-Cape Haze Area Chamber of Commerce
www.englewoodchamber.com
Greater Sarasota Chamber of Commerce www.sarasotachamber.com
Longboat Key Chamber of Commerce www.longboatkeychamber.com
North Port Area Chamber of Commerce www.northportareachamber.com
Siesta Key Chamber of Commerce www.siestakeychamber.com
Venice Area Chamber of Commerce www.venicechamber.com
Pictures shown in this report are courtesy of the Sarasota County Information Technology Department and the Sarasota
County Communications Department.
Serving Our Community with Pride and Accountability
28