Anna Maria Island’s biggest city has locked in a smaller budget for the new fiscal year, which begins Oct. 1.
City commissioners unanimously voted Sept. 25 on motions to adopt a $22,075,146 budget and 1.99 millage rate for fiscal 2025-26.
The 1.99 millage rate is carried over from 2024-25 but represents a tax decrease due to an 8.15% drop in total taxable property value within the municipality.
By maintaining the millage rate, the city will collect $592,500 less in ad valorem revenue than it did last year.
The tax drop goes hand-in-hand with a $3,158,450 decrease in total spending, from $25,233,596 in 2024-25 to $22,075,146.
The decrease can be attributed to drops of more than $2 million in unrestricted reserves, $1,364,000 in capital outlay expenses, $687,771 in personnel costs and $437,644 in operating expenses.
On the other hand, the city projects $500,000 more in building permit revenue and is counting on $1,267,374 in disaster reimbursement funding from the Federal Emergency Management Agency to add to the coffers.
There was no public comment.
