Sanibel City Council Lowers 2015 Sanibel Tax Rate
City Of Sanibel, Sanibel Island, Florida
Sanibel Tax Rate: Sanibel City Council Lowers 2015; Holds Revenue Flat @ $50.5M
The tax base in Sanibel increased slightly based upon approximately $19.9M in new construction development in the last year.
This enables a slightly reduced millage rate for Sanibel for fiscal year 2015.
According to the Island Sun:
During Saturday’s first budget hearing, Sanibel City Council unanimously approved lowering the operating millage rate for fiscal year 2015 to the rolled-back rate of 1.9995 mills, with Sanibel’s revenues estimated at $50,480,097.
The tentative budget presentation, delivered by the city’s Finance Director Sylvia Edwards and City Manager Judie Zimomra, offered council members and about a dozen local residents gathered at city hall an in-depth analysis of Sanibel’s property values (which increased 4.82 per- cent to $4,300,931,329), revenues and expenditures.
Please see the complete story at Island Sun.
