On July 1, 2024, the Town of Fort Myers Beach received the Final Tax Roll values released by the Lee County Property Appraiser’s Office. After taking those values into consideration, staff will be recommending that the Town Council keep the current millage rate at 0.99.
The additional tax revenue generated by the increase in taxable value is sufficient for the Town to fund a contribution to its emergency reserve as part of the FY25 budget as was originally proposed, but without a millage rate increase. In addition, the results of the recently completed financial statement audit confirm that there is sufficient “unassigned fund balance” in the General Fund for staff to recommend that a portion of it be used to strengthen the Town’s emergency reserves.