- This decision follows eight years of property tax rollbacks and the loss of a 1-cent sales tax for capital projects.
- An accounting error discovered in August and the resignation of the finance director contributed to public distrust during the budget process.
With only six of its seven members present, the Marco Island City Council had some trouble approving the city’s fiscal year 2026 property tax rate and budget Monday night. After several tie votes and hours of discussion, the body finally agreed by a 4-2 vote to approve a slight increase over FY25, which ends Sept. 30.
Marco Island property owners will see a property tax, or millage, rate of 1.267 mill for FY26, up from 1.2400 this year. Councilors in July had considered a 34% increase to1.6680 mill.
One mill equates to $1 for every $1,000 worth of a property’s assessed, or taxable, value (after adjustments, such as the homestead exemption for residents). Taxes on a $1 million property will be $1,267, up $27 from $1,240 this year…