Lee property tax rate expected to jump by 12.29%
Lee County taxpayers will be facing an increase of 12.29% on the tax rate for the budget year that begins on Oct. 1. Owners of real estate will be paying $3.7623 per $1,000 value on their property.
The increase is based on the so-called roll-back rate, which is the tax rate that would raise the same amount of tax revenue as the prior year, which is $3.3505.
County commissioners have scheduled an evening meeting for Tuesday, Sept. 19 to formally ratify the new tax rate.
Taxpayers pay several property taxes on real estate. The property appraiser sends notices of the projected property tax with a truth in millage statement, called the TRIM notice, that shows the property owner what the tax rate will be on their specific property.
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The tax is based on the the appraiser's office determination of the value of property being taxed.
Among the other property taxes on the typical tax bill are a local school tax and a tax imposed by state law to provide funding for public schools.
Other taxes faced by tax payers include funding for the county library system, hazardous emergency situations requiring county response, and other services, such as hyacinth and mosquito control.
County officials have taken several administrative actions to avoid an even higher tax bill. Among them is the county's growth increment funding, which captures the tax paid for the first year of a newly constructed building, and was identified as a way offset higher taxes.
Growth increment funding is usually used to pay for roads and other improvements that are needed when new buildings go on the tax rolls. The property taxes collected this year will be used to help balance the municipal budget.
"Growth increment funding has been suspended," Pete Winton, who is in charge of county spending, said during a budget workshop. "The county will probably have to spend it for a couple of years until we get out of the trough we are experiencing."
Discount payment plan
Tax payments are made to the Lee County tax collector. Early payment discounts are offered: 4 percent if paid in November, 3% in December, 2% in January, 1% in February. There is no discount for paying in March and if you wait until April, you are considered delinquent.
This article originally appeared on Fort Myers News-Press: Lee County property tax rate up more than 12% over roll-back
