Unless the public speaks up at the next budget public hearing on September 22nd, the millage rate on Fort Myers Beach will increase from .95 of $1,000 of assessed property value to .99. That’s 18.68% higher than the roll-back rate of .83.
The roll-back rate is the millage rate a municipality would approve if it were to generate the same amount of tax revenue in the approaching fiscal year as it did in the current year.
In fiscal 2021-2022, the Fort Myers Beach millage rate of .95 generated $3.7 million to the town’s budget. Property values have skyrocketed everywhere in Florida. So if the millage rate stayed the same at .95 the town would generate more revenue and you will pay more in your tax bill.
The town council, in a 5-0 vote, approved moving the 2022-2023 millage rate of .99 per $1,000 of assessed property value to the final public hearing. That higher millage rate is expected to generate a total of about $4.5 million for the town’s budget.
Town councilman Jim Atterholt said he supported the increase because, for another $25.50 on his tax bill, he’d be able to get lighting on Estero Boulevard, 2 Community police officers and beach renourishment. All three were part of an add-on list, a wish list of items, council members want to get accomplished in the coming years.
The millage rate needs to be voted on again during a public hearing on September 22nd at 5PM. The rate cannot go up but it can still come down. If the rate does come down, town staff will also have to re-work the tentative town budget, which was also moved to the next hearing Thursday night, based on a millage rate of .99