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Town council approves budget, tax rate to stay flat

By Staff | Sep 23, 2020

The Town of Fort Myers Beach Council approved a $23.86 million budget on Monday and set a millage rate of .9500 which will keep taxes flat, Fort Myers Beach Manager Roger Hernstadt said.

Despite taking on $10 million in borrowing for capital projects such as Bay Oaks, Bayside Park and Times Square, Hernstadt said the town was able to avoid raising taxes by moving stormwater charges out of the general fund.

The town raised its stormwater rate earlier this year from $19.98 per equivalent residential unit to $25.98 per unit for 2021. The rate will rise to $37.64 per unit in 2023.

Residents living in special flood hazard areas are expected to see a 25% reduction in premiums on their next insurance renewals, Hernstadt said.

The announcement was made on Monday with the town council showcasing a letter from the Federal Emergency Management Agency as part of a three-year National Flood Insurance Program (NFIP) Community Rating System (CRS) verification report.

Mayor Ray Murphy read the letter which stated “flood mitigation activities” the town has taken led to the town’s reduction in its premiums.

The town’s total additional savings is an estimated $919,485.

“It’s nice to get some good news now and then,” Murphy said.

Hernstadt said the town’s work on helping renovated properties and new construction meet the permitting and coding standards, including a focus on flood protection, led to the upgrade in the town’s rating.

“What it most closely looks at is how the planning, zoning and building codes are applied,” Hernstadt said.