The penny provides money for quality-of-life projects without relying on higher property taxes that make Sarasota County a better place to live, work and visit.

The penny spreads the cost of capital projects such as libraries, roads, parks and fire stations among all those who use them, including seasonal residents and tourists which would otherwise be paid for by property owners alone.

Sarasota County voters approved the 15-year renewal of the 1 percent sales tax on Nov. 6, 2007.

The renewal is expected to raise about $1.4 billion over the next 15 years through 2024. The school board will receive 25 percent of the revenue, with the remainder allocated based on population in Sarasota County, Venice, Sarasota, North Port and Longboat Key.

The penny was first approved by voters in 1989. A penny extension (Phase II) was approved by voters beginning 1999.

Sarasota County commissioners agreed to dedicate 50 percent of the county’s revenues from the penny tax extension for transportation projects.

Past Penny projects have included: road improvement projects, street tree landscaping, the new North Port Police station, North Port High School, pothole patching projects, new fire stations, bike trails, waterway improvements, the Venice pier parking lot improvements and many other community improvement projects.