Sarasota County property valuations increased by 24 percent in the past year, fanned by a red-hot year in real estate sales.

Even while they consider cutting the property tax rate, the extra money will provide county commissioners more money to spend. During a budget workshop today, commissioners are considering a $1.1 billion budget for fiscal 2007, an increase of more than $57 million over the current budget.

Estimated tax on a home is valued at $200,000 with a $25,000 homestead exemption would be $2,447. Commissioners are looking at increasing spending for transit service, energy, healthcare and pension services.

By M. Sese
http://realestatepress.org