On Tuesday Lee County Property Appraiser Matt Caldwell released final tax roll values for the 2025-2026 fiscal year. Last month Caldwell estimated the tax rolls on Fort Myers Beach would increase by 3%. His final number is much higher.
The final tax rolls from Caldwell’s office are now set at 12% higher than the final numbers from the 2024-2025 tax rolls. Last month Caldwell estimated that Fort Myers Beach would see $4.3 billion in taxable property, an increase of $125,411 (3%) over last year. Now Caldwell says the taxable property value total is $4.6 billion, $514,240 more than 2024-2025. That translates to an increase in property value of 12.33% over last year and surpasses the total property value number in 2022, before Hurricane Ian damaged or destroyed nearly every standing structure on the island. For reference, just after the storm in 2023, Fort Myers Beach had $2.6 billion worth of property that could be taxed. Before Hurricane Ian in 2022, the total taxable value of properties on Fort Myers Beach in 2022 was $4.5 Billion.
We asked Caldwell why the estimate last month was so much lower than the final this month. He said, “We finished all of the “uninhabitable” review. Between Sanibel and Fort Myers Beach, we brought about 2,000 condos back on the roll.” The Sanibel estimated increase from Caldwell’s preliminary numbers was plus 1%. Caldwell’s final number is plus 20% over the final 2024-2025 numbers. Sanibel’s taxable property total for next year is $5.6 billion.
Caldwell says despite the good news for 2025-2026, next year may be different. “This (the increase) makes sense with the addition of Margaritaville and the Red Coconut sale. However, they do need to proceed with caution because all of our indicators for 2025 are showing a drop coming next year.”
When Caldwell uses Red Coconut as an example, here’s what that means. When a property is owned for decades by the same person or same family there’s a cap of 10% on the amount its taxable value can be increased annually. Being that Red Coconut was owned by the Myers family for so long, the taxable value could only increase by 10% each year. At the end of their ownership they were only being taxed on about $10 million worth of the main property. Property values on Fort Myers Beach have gone up, even immediately after Hurricane Ian. Seagate who purchased the 10-acre Red Coconut property started out being taxed on an assessment of the property of $35 million. Every property that changed hands; Outrigger, Pete’s Time Out, The Dairy Queen, and others also fit into that higher taxable bucket.
Fort Myers Beach Mayor Dan Allers told Beach Talk Radio the 12% increase in taxable values over the past year marks a truly significant milestone. “Surpassing our pre-Hurricane Ian valuation levels just three years later speaks volumes about the strength and resilience of our community. This rebound reflects renewed confidence in Fort Myers Beach—from residents, investors, and businesses alike—and signals a pivotal turning point in our recovery. It’s a direct result of the hard work, dedication, and perseverance of everyone committed to rebuilding our island stronger than ever. This momentum will be key as we look ahead and continue investing in the future of Fort Myers Beach.”
$4.6 Billion is the the number the Fort Myers Beach Town Council will work with when they start their budgeting process to set the ad valorem tax rates for the next fiscal year which begins October 1st. The current tax rate on the beach is .99 of $1,000 of assessed property value. The Town Council has not voted to raise that rate in several years. They got close to increasing the millage last year over concerns about not having enough money in their reserve funds. At the end of the process the town council diverted some money to reserve accounts and opted not to raise taxes.
Everthing is going to S… on this Island –
Property values go up – but, listings don’t sell – are at all time high, price drops – owners still sit on properties.
We all know why:
High HOA
High Property Tax
High Special Assessments
it’s become unaffordable.
The People holding these positions are making INSANE / RECKLESS decisions.
Cut your Budget – just like everyone else has to.
Wish there were some LOGICAL and COMMON SENSED minded people in these offices !
Our taxes are up, insurance is up, utilities are up and yet I look around and the island still looks like S$%#. The town is focusing on what they want. They are moving into their new place so they are all happy. If you take out all the things that the people of the island have repaired and take away the work that business owners have done….what has the town accomplished? So now our home values is up yet again but the town does nothing to actually help increase the prices of our homes. My home is down 600K since Ian but my taxable value keeps going up. NOTHING has been done to help increase the desirably for buyers to buy but the town has the time to stalk owners to make sure they are not renting out their homes too much. Shame on everyone of the town council members and that mayor as well. 3 yrs is on our doorsteps. There are still piles of concrete, destroyed building, dead trees everywhere. No wonder home owners are angry.
Well, our town council and mayor are moving into their new building. The Library is open, we have parades and fireworks. We have sand and turtle lights.This has been all that the mayor has focused on for 3 yrs. I had friends come to visit that lived through hurricane Sandy and they are shocked at how bad the island still looks. They even commented on all the dead trees that are still standing and broken fences, piles of concrete,etc and here we are in another hurricane season. This town council and Mayor should he held accountable. Negligence!!!
My property taxes skyrocketed and I was told from the tax office it is because people from up north are coming down and paying a lot for lands. However if I wanted to sell my property I would get a fraction of what it was pre-Ian. They are literally saying my small 2 bedroom home, not on the water, is worth 1.2 million dollars. Houses are selling for about half of that but I still have to pay them $1000 a month in property taxes.
PS and the rental prices are really really low to try and make up the changes.
These numbers are exaggerated due to the various short-term economical and environmental issues over the past few years. Town Council can’t keep making decisions based on these types of issues. I wish they would take a look at communities surrounding us. Cape Coral just made Wall Street Journal’s “Worst Housing Market in America” list. They can’t even get water to some of their homeowners, but they keep approving new developments. Fort Myers is having water/sewer issues, but they keep bringing in new developments. I haven’t heard a peep out of Sanibel, a community that adheres to its building development codes. Before this island turns into an infrastructural nightmare with no water and sewer issues, someone needs to put their foot on the over-development brake. Good Luck to Protect FMB.
Well stated!
Unfortunately sales prices and sales are WAY BELOW pre Ian! Property owners are getting ripped off by Lee County and Matt Caldwell. Property taxes have literally doubled pre Ian prices, sales prices have not.
property values HAVE PLUMMETED not gone up. What mental person would increase values?! Can’t you see we have 25 months of property supplies on FMB. People are tired of the construction project delays, the fake recall, crap returns for this barren island. GIVE THE PROPERTY TAX PAYERS A BREAK. Or ALL WILL LEAVE !
Alexander, You seem to have mis-interpreted this article. The FMB tax roles have increased to pre-Ian levels. Ther are no planned property tax increases.
The tax roles have increased because pre-Ian ground-level houses with a $250,000 value, for example, have been torn down and they are building a $2,000,000 3-story replacement home. As a result, the tax base increases.
That makes no sense as all property values all over Florida have decreased immensely!! People cannot even sell their homes because there are no buyers due to high interest rates and horrible economy!!!!
That’s confusing, single family residential values are way down, in fact you can’t even sell. Only the ‘ red coconuts’ have appreciated. After all the monies we have all put into rebuilding our homes, they are depreciating and there is no market to sell. 3% or 13% seems very unfair.
my condo is significantly appraised less the pre Ian. Infact if I were to sell now I would take a loss from my initial purchase. If it get appraised at a higher rate then this last year, I will definitely request a revaluation. Infact my sale value is lower then last years value assessment
I hope the Town Council takes notice and stops approving every development proposal that crosses their desk. They need to start adhering to the Comprehensive Plan. The town is not going broke.
Totally agree, from what I remember hearing from town staff at last Seagate public meeting; this was one of the reasons they were using to justify approval of 17 stories…Mayor Allers tried to get staff to be honest about rising value of properties but they wouldn’t!!
It wasn’t the staff. The staff recommended denial. It was the developer who pitched council and council bought everything Matt and Seagate sold them. Watch the meeting. Staff recommended DENIAL for Seagate and moss marina. COUNCIL didn’t listen to them or take their professional advise.
The majority of Seagate’s value is in the land and is now on the tax roll. The increased value from the condos will not show up for years ,even without the legal fight. It might take 5 years in this softening market.