Despite higher property values that will net Fort Myers Beach approximately $700,000 more for its next budget, and a slew of proposed fee increases, a resolution to raise the millage rate on residents is also on the agenda this Thursday.
The town council will consider raising the millage rate from .95 per $1,000 of assessed property valuation to .99.
The Lee County property appraiser has calculated the taxable value of real property on Fort Myers Beach to be $4.439 billion. That’s up from $3.886 billion last year. In this fiscal year Fort Myers Beach took in $3.692 million in property tax money. That number will jump to $4.423 million in the next fiscal year.
The state of Florida requires that municipalities also present the rolled-back rate to taxpayers. The rolled-back rate calculates the tax revenue a municipality would take for its next fiscal year to generate the same amount of revenue from property taxes for its next fiscal year. When property values rise, property taxes generate more revenue. For the total revenue generated to stay the same, the tax rate must decrease.
The Fort Myers Beach current year rolled-back rate is .8368 mils. The proposed operating millage rate of .99 is 18.31 % higher than the rolled-back rate
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