Newspaper article Sarasota Herald Tribune

Hospital Tax Rate Likely Steady for Coming Year

Newspaper article Sarasota Herald Tribune

Hospital Tax Rate Likely Steady for Coming Year

Article excerpt

SARASOTA MEMORIAL

SARASOTA COUNTY -- Sarasota Memorial Hospital's property tax rate will likely remain the same next year, but the hospital will take in more revenue because of rising property values and an increase in the number of new homes this year.

The hospital stands to collect $50.4 million in tax revenues for 2017, the hospital's chief financial officer projected, compared with about $46.6 million last year.

The property tax rate will stay the same as last year's rate, at 1.0525 mills, the hospital board tentatively agreed Tuesday.

As a result, Sarasota County homeowners will continue to pay about $1.05 for every $1,000 of their homes' taxable value to support the public hospital system. But many owners will see an increase in their tax bills because their property values increased.

Board member Tramm Hudson, a former bank executive and three- term chairman of the Republican Party of Sarasota County, gave credit to the hospital's leadership for running Sarasota Memorial efficiently enough that the board didn't need to raise the millage rate. …

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