Understanding the Sumter County Budget Process

The VHA has formed a finance committee to examine financial issues that impact our community. The committee consists of residents who have served as financial experts for a variety of state and local governments.  One of the goals of the committee is to provide educational information regarding the financial operations of the various levels of government that spend our tax dollars. This is the first article from the committee and is co-authored by David Meng and David Fountaine. Both have extensive experience in governmental finance and accounting. David Meng is very familiar with Florida governmental accounting, having worked as a budget analyst for the Sumter County Board of Commissioners.

County and municipal governments in Florida operate on a fiscal year that starts October 1 and ends September 30 of the following year. Sumter County’s budget calendar is online at https://www.sumtercountyfl.gov/1345/Budget-Calendar.  The proposed budget is a little more difficult to find (it would be nice to have the proposed budget more easily accessible on the county website). You can find it online at https://www.sumtercountyfl.gov/AgendaCenter/ViewFile/Agenda/_07152025-962

A tentative budget will be published in September. The public will have two opportunities to provide public input on the budget before the County Commissioners adopt the budget for the next fiscal year. We encourage you to review the budget and participate in the public hearing process to provide your input to your elected officials.

The first public hearing for adoption of the tentative budget and millage rate will be held on September 16 at 6 pm at Everglades Recreation Center, 5497 Marsh Bend Trail. A second public hearing will be held on September 30, also at 6 pm at Everglades Recreation Center.

There is one thing to keep in mind as you consider the county budget and its impact on your finances. You may hear elected officials announce that they are not increasing the millage rate, which is the amount you pay per thousand of assessed value, and think this means you would not see an increase in your taxes. This would be true IF you did not have an increase in the assessed value of your property. However, Florida law mandates that real property be reassessed annually as of January 1^st. For properties with homestead exemptions, the assessed value cannot increase by more than 3% annually or the percentage change in the Consumer Price Index (CPI), whichever is lower. The reality is that even with no change in the millage rate, you will experience a tax increase unless there is no change to the assessed value of your property.

For those concerned about how much you pay in taxes, now is the time to educate yourself and offer your input to your elected officials before the budget is passed and the tax rate is established.