GMD Undergrounding Project
On November 3, 2015, the Town of Longboat Key’s electors voted to authorize the Town’s borrowing of up to $25,250,000 for undergrounding utilities (electric, telephone, cable and fiber optic) and feeder lines on Gulf of Mexico Drive, including Binnacle Point in Spanish Main and on Broadway (“GMD Undergrounding Project“). These costs will be paid for through non-ad valorem assessments.
The Town provided homeowners an opportunity to prepay their assessments. If the homeowner did not prepay, the assessment was imposed against the parcel to be collected as an annual installment appearing on the annual tax bill from their County commencing in November 2016. The annual assessment will continue for a period of thirty (30) years.
Neighborhood Undergrounding Project
On March 15, 2016, the electors voted to authorize the Town’s borrowing of up to $23,850,000, to finance the remaining undergrounding of electrical utilities in certain neighborhoods including street lighting installation, and communications/fiber optics utilities in certain neighborhoods, payable solely from special assessments imposed against real property throughout the Town and other non-ad valorem revenues if necessary.
What Is the Assessment on My Property?
You can search for the assessments on your property by going to GMD Underground Project Assessment and Neighborhood Underground Project Assessment. You will see the total assessments charged for GMD and Neighborhood as well as the projected annual charges.
To see the most current charge levied on a property, you can look at the property’s tax bill on the Sarasota Tax Collector or Manatee County Tax Collector website. You will see the latest assessments under the heading “Non-Ad Valorem Assessments.”
