Marco Island kept its property tax rate unchanged as officials warned that an Aug. 18 bridge bond vote and Amendment 3 in November could force spending cuts, delay infrastructure projects and leave the city searching for new revenue.
Fort Myers faces a $9.2 million budget gap as expenses outpace nearly flat revenue. City leaders are weighing $6.8 million in cuts, leaving vacant jobs unfilled, raising property taxes and fees and tapping reserves.
Cape Coral officials face a $5.7 million budget gap and are preparing for the potential impact of a statewide property tax amendment that could significantly reduce future city revenue.
Fort Myers could lose $22.4 million annually if property taxes on homesteads are eliminated, as officials weigh budget cuts, rising debt and uncertainty from proposals in Tallahassee.
Proposed state tax relief plans could eliminate nearly 40% of Cape Coral’s property tax revenue, forcing potential cuts to parks, transportation and public safety. City officials warn the impact could be severe if voters approve the measure.
