CEPD board approves new budget, millage rate
The Captiva Erosion Prevention District’s commission adopted a final ad valorem operating millage rate of 0.4395 mills and a budget of $678,072 for the upcoming fiscal year at its second and last budget hearing.
On Oct. 2, the commissioners voted 4-0 for the proposed millage rate — which exceeds the rolled-back rate of 0.4295 mills by 2.33 percent — along with the budget for 2021-22, which began on Oct. 1.
CEPD Chairman Rene Miville had an excused absence from the hearing.
A mill is $1 per every $1,000 of taxable valuation. The rolled-back rate is the rate it would take to generate the same amount of revenue in the coming fiscal year as was generated in the previous year.
The Lee County Property Appraiser’s Office certified that the gross taxable value for operating purposes not exempt from taxation within Lee County to the CEPD as $1,542,825,679.
The approved budget includes appropriations and revenue estimate.
Prior to the votes being cast on the two separate resolutions, staff and some of the commissioners pointed out that the millage rate being proposed is the same rate used for fiscal year 2020-21.
At the first budget hearing on Sept. 13, Executive Director Jennifer Nelson noted that because of property value increases, the same rate will result in a tax revenue increase of about $20,000.
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