Millage Rate Increase On The Table This Thursday

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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

2 COMMENTS

  1. Roll back rate seems to be purposely confusing to the general public..
    As Dan Allers once said ..
    “There’s Money to be made in confusion….”when he was discussing the confusing lighting issues and cost associated.

  2. Thank you for understanding the real issue here. Over the past 8-9 years, Council has not been discussing the “roll back rate”. They focus on only the mileage rate and try to assert they “did not raise taxes” when our taxes really increased due to rising property values. To my knowledge, the “roll back” rate has not been utilized since Larry Kiker was Mayor!

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