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Cape Coral residents could see new tax rates starting next year

City of Cape Coral
Posted at 6:45 AM, Sep 09, 2022
and last updated 2022-09-09 06:45:21-04

CAPE CORAL, Fla. — Cape Coral residents can possibly see their city taxes lowered next year, but that all depends on what the city council will vote on.

Friday morning mayor John Gunter is scheduled to speak at a Chamber of Commerce meeting where he will lay out the proposed budget and tax rate for 2023.

Public safety is one of the departments that could see an increase in next year’s budget, that money will directly affect whether the police and fire departments could invest more money in training or things like safety equipment.

The proposed fiscal budget for 2023 right now is at $965,427,198 dollars.

Public safety, which is a big focus for the city, is part of the general funds of the budget.

The general fund is about 26% of the total budget.

The enterprise fund is the fund that gets the biggest chunk of money. That is where about 41% of the budget goes to.

That money goes to things like water and sewer projects.

Before a budget is approved the city must first adopt a millage rate. That rate will be used for figuring out how much property tax you have to pay.

The city council has talked about lowering the millage rate, but council members are deadlocked on whether it should be lowered.