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\u201cOver the course of the year, directed by staff prior to the final budget hearing, we were finding ways to cut the millage,\u201d Chairman Joseph Tiseo said after public comment.<\/p>\n
SUN PHOTO BY NICOLE DROEGER<\/p>\n
PUNTA GORDA \u2014 As the deadline approaches for a final budget, the Charlotte County Commission voted Monday to adopt a reduced millage rate from 6.16 to 6.13.<\/p>\n
The operating budget for fiscal year 2027 is $704 million, a 4.92% increase from $671 million in the same period of time.<\/p>\n
<\/p>\n
The operating budget (blue) versus the capital budget (green) over the last five years.<\/p>\n
PHOTO COURTESY OF THE CHARLOTTE COUNTY GOVERNMENT<\/p>\n
Commissioners voted for a $1.2 million change in operating funds, an amount that will return during the final budget hearing Sept. 28.<\/p>\n
Each fiscal year begins Oct. 1 and ends Sept. 30.<\/p>\n
RATE DECREASE<\/p>\n
A millage rate is the rate of tax per thousand dollars of taxable valuable. For example, a house valued at $300,000 would be taxed at $300 multiplied by 6.13, which is $1,839 in ad valorem taxes.<\/p>\n
The FY 26 millage rate is 6.04. A home valued at $300,000 currently pays a $1,812 tax per year.<\/p>\n
The millage rate does not reflect other county assessments like street drainage and maintenance MSBUs. Other tax bills include the Charlotte County Public Schools District.<\/p>\n
The FY 27 capital fund was calculated based on the 20-year sales tax initiative, which will be an extension of the 1% sales tax if approved during November\u2019s election.<\/p>\n
\u201cThis allows us to use the surplus from the capital projects plan,\u201d Charlotte County Assistant Budget Director Francine Lisby said. \u201cIt will allow us to move forward with projects earlier and take advantage of better construction prices.\u201d<\/p>\n
Lisby said the county\u2019s debt has declined since its peak in 2008. There was a slight increase in FY 24-25 due to utility debt but is projected to decrease in FY 26-27.<\/p>\n
For context, the operating budget in FY 22 was $451 million; $705 million is a 56.1% increase.<\/p>\n