Bradenton raises property taxes

The Bradenton City Council hopes an increase in the property tax millage rate will help steady revenues, even as property values fall. The potential for a shortfall led the council to approve a 15% rate increase last week.

Pending final approval, Bradenton property owners will pay $4.9452 per $1,000 in assessed value, up roughly 66 cents from the current $4.2843 rate.

In the second quarter of 2010, the median sale price for an existing single-family home in the Sarasota-Bradenton market was $166,800, according to Florida Realtors. A Bradenton homeowner with a similarly valued property could pay more than $100 in additional taxes with the new rate in place.