Good news for Sanford property owners: Seminole County Property Sppraiser David Johnsons says property values in the city increased by 7.2% this past year*. That’s a bigger increase than anywhere in Seminole County.
Bad news for Sanford property owners: City Manager Norton Bonaparte and city staff are asking city commissioners to increase the millage rate by 0.5 mills. That’s also that’s also a bigger increase than anywhere in Seminole County.
In fact, no other cities are currently looking at property tax rate increases.
Sanford’s current rate of 6.825 mills is already the highest in the county. Raising the rate by 0.5 mills would put the Sanford rate at 7.325 mills, nearly 2 mills above any city in Seminole County.
The city commission is scheduled to set a tentative millage rate Monday, July 13. That will by no means be the only discussion on the matter.
By law commissioners are required to set a tentative millage rate in July so it can be advertised to property owners. The actual rate will not be set until September.
The way the law is written, the effective millage rate (set in September) can be lower than the tentative millage rate, however it cannot be higher than the tentative millage rate.
It is expected that commissioners will approve a tentative millage rate at 7.325 mills, at least for discussion purposes.
Keep checking The Bokey for updates. I will have more – MUCH more – on this issue in the coming days.
– by Dan Ping
*Update: The increase of 7.2% is the total increase in value for all properties in Sanford, so individual property values may be more or less than 7.2%.