|
Property taxes are calculated using this formula:
(Assessment - Exemptions) x Millage Rate(s) =
Property Tax
For most home owners, property taxes are
calculated by taking the assessed property value (for example,
$300,000) and subtracting any exemptions ($300,000 – $50,000
Homestead Exemption = $250,000).
This amount is multiplied by the millage rate
of the taxing authority ($250,000 x Sarasota County’s .0033384 Millage Rate = $834.60).
Sarasota County has
lowered the millage, or kept it flat, for the last six years, as shown in
the chart
below.
| Property Tax Aggregate Millage
Rate |
|
|
 |
|
Click to enlarge |
|
|
