Bradenton Beach passes 1st reading of 2013-14 budget

It was a mere formality for Bradenton Beach commissioners at the first reading of an ordinance to adopt the 2013-14 fiscal year budget.

With no one present from the public, the process moved along quickly with commissioners passing resolutions to adopt the tentative millage rate at 2.3329 with a 2.92 percent increase over the rollback rate — the millage needed to produce the same revenue as the current year — and a tentative $2,502,724 budget.

A mill is $1 for every $1,000 of appraised property value.

Commissioners moved quickly to pass the first reading of two required budget ordinances.

The public will have one more opportunity to address commissioners at the city’s final public hearing for the budget, which is scheduled for 5:15 p.m. Wednesday, Sept. 18, at Bradenton Beach City Hall, 107 Gulf Drive.

Commissioners raised taxes for the 2012-13 fiscal year after facing a $450,000 budget shortfall, but opted to keep the tax increase to a minimum by taking half of the shortfall from the city’s reserve fund.

The increase in property taxes this year for homeowners will be amount to about $85 for a home valued at $450,000. However, property values increased this year by about 6.5 percent, meaning the city increased its coffers more than expected through higher property valuations.

Ad valorem revenue is expected to increase for the 2013-14 budget by more than $23,000 because of higher property values.

If ad valorem revenues increase even though the millage rate does not, state statutes consider it a tax increase.

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