On Monday, July 3rd, Lee County Tax Appraiser Matt Caldwell released the final tax roll figures for 2023. And for Fort Myers Beach the final numbers are even worse than first estimated back in June.
Out of all Lee County municipalities, Fort Myers Beach will take the biggest hit.
The total taxable value of properties on Fort Myers Beach in 2022 was $4.5 Billion. In 2023 that number will be $2.58 Billion, a drop of 42.4%. Back on June 2nd, Caldwell estimated the property values on Fort Myers Beach at $2.7 Billion, which would have been a 40% drop.
Local elected officials on Fort Myers Beach have been warning residents that this next year is going to be tough with so many houses destroyed or demolished due to Hurricane Ian and new business construction moving slowly because businesses are now starting from the ground up.
New taxable construction on Fort Myers Beach in 2022 was $44 Million. New taxable construction on Fort Myers Beach in 2023 will be approximately $1.22 million.
When comparing other Lee County municipalities, Sanibel will be down 33.4%, the City of Fort Myers will be down 12.9%, Cape Coral is down 14.18% and Bonita Springs is down 9%. Lee County is estimated to be down 9%.
What this will ultimately mean is less ad-valorem tax money to run the town and the need to rely more on state and federal financial help to keep the town afloat until homes can be rebuilt and new businesses can be constructed. Last month the Fort Myers Beach Town Council voted not to raise its millage rate on residents which will remain at .99 of $1,000 of assessed property value.
The town has applied for, and is awaiting answers from, both the Florida legislature and the federal government for funds to with its rebuild. That includes projects such as rebuilding Town Hall and Bayside Park among many other projects.
The town is hoping some state funds become available soon now that the new state budget has been passed. In June, state representative Adam Botana told the Fort Myers Beach Town Council that about $117 million is available for “this area.” Botana represents district 80 which includes Fort Myers Beach, Sanibel, Estero and Bonita.
Back in April Governor DeSantis awarded Fort Myers Beach an $11.9 million interest free bridge loan for operational expenses because of the impact of Hurricane Ian on the Town’s tax revenues and governmental operations.
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