TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Discussion and Possible Action Regarding the 2026 Certification of Taxable Value, Proposed Millage and Scheduled Dates for Public Hearings.
Recommended Action
Select Option 1. Direct the City Manager to submit the 2026 Certification of Taxable Value with the proposed millage rate of 3.7667 and scheduled dates for Public Hearings on September 10, 2026, at 5:01 p.m., and September 24, 2026, at 5:01 p.m.
City Commission Options
Option 1: Direct the City Manager to submit the 2026 Certification of Taxable Value with the proposed millage rate of 3.7667 and scheduled dates for public hearings on September 10, 2026, at 5:01 p.m., and September 24, 2026, at 5:01 p.m.
• Pros: Maintains a flat millage rate and ensures the tentative hearing and final hearing as required by Truth in Millage (TRIM) follow statutory requirements. Allows the City to certify taxable value and proposed millage with a timely submission to the Sarasota County Property Appraiser’s office.
• Cons: Establishes the proposed maximum millage rate for TRIM purposes. While the Commission may later reduce the rate, it cannot increase it above the certified proposed rate without restarting the TRIM process.
Option 2: Direct the City Manager to submit an alternative option to the proposed millage rate of 3.7667 or submit an alternative date for the public hearings.
• Pros: Gives the Commission the opportunity to align the rate with other priorities, other financial trends, or pending tax implications.
• Cons: Any change requires recalculations or rescheduling and may result in a late certification submission to the Sarasota County Property Appraiser’s Office.
Background Information
During the budget process every year, the City of North Port is required as part of the Truth in Millage process to submit a proposed millage rate. This rate is not the adopted rate, but rather the maximum millage rate. The actual adopted rate will be voted on by the City Commission at the Budget Hearings in September 2026.
In June 2026, the City received the gross taxable value from the Sarasota County Property Appraiser’s Office which was $11,471,551,537 for 2026 This amount includes new construction of $800,091,647 which leaves the adjusted taxable value at $10,671,459,890. This amount is compared to the final gross taxable value from the prior year of $10,846,303,610 to determine the rolled back rate.
In preparing the City Manager’s Proposed Budget for Fiscal Year 2027, a millage rate of 3.7667 (the same since Fiscal Year 2021) was used. The rolled back rate for Fiscal Year 2027 is 3.8284 which is calculated to bring in the same tax revenue as the prior fiscal year excluding the 2026 net new taxable value.
The schedule for the adoption of the Fiscal Year 2027 Budget is as follows:
Ø First Public Hearing: City Commission Special Meeting on September 10, 2026, at 5:01 p.m.
Ø Second Public Hearing: City Commission Special Meeting on September 24, 2026, at 5:01 p.m.
Strategic Plan
Good Governance
Financial Impact
Not applicable.
Procurement
Not applicable.
Attachments:
1. Draft DR 420 Certification of Taxable Value Form
2. Draft DR 420 MMP Maximum Millage Levy Calculation Form
3. Presentation 26-0968
Prepared by: Jake Gaub, Budget Manager
Department Director: Irina Kukharenko, CPA, Finance Director