As Town Manager Will McKannay stated Sunday on Beach Talk Radio, a proposal to raise the millage rate on Fort Myers Beach residents is coming. Now we know what the proposed increase is that he’ll be requesting next Monday.
Here’s the explanation as to why they are requesting a 26% increase from .99 of $1,000 of assessed property value to $1.25. “The Town has been awarded an $11,900,000 bridge loan to offset shortfalls in ad valorem revenue of which the town’s FY2026 preliminary budget includes $2,447,757. To become more sustainable in the future, staff recommends considering an increase in the millage rate. With the preliminary budget numbers, we are using $2,447,757 from the town’s bridge loan to cover operating expenditures due to loss in ad valorem revenue since hurricane Ian. A millage increase of 1.255 will provide $1,191,486.” There is a possibility the $11.9 million bridge loan will be forgiven, however, the town has not been told that will be the case as of yet.
The town has not raised the millage rate since before Hurricane Ian…