City council OKs new budget, millage rate
The Sanibel City Council recently adopted a final ad valorem operating millage rate of 1.8922 mills and a budget of $76,711,153 for the upcoming fiscal year at its second and last budget hearing.
On Sept. 27, the council voted unanimously 5-0 for the proposed millage rate — which exceeds the rolled-back rate of 1.8289 mills by 3.46 percent — and the budget for 2021-22, which began on Oct. 1.
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.
As part of the adoption, the council set the final sewer millage rate at 0.13031 mills, land acquisition millage rate at 0.0330 mills and Sanibel Recreation Center millage rate at 0.1029 mills.
It also established committed fund balances of $4.5 million for the Disaster Reserve, $1 million for the Environmental Initiative Reserve and $215,000 for the Insurance Deductible Reserve from the general fund’s fund balance.
The Lee County Property Appraiser’s Office recently certified that the “gross taxable value for operating purposes not exempt from taxation within the city of Sanibel” is $5,615,472,773.
The approved budget includes appropriations and revenue estimates.
To reach TIFFANY REPECKI / trepecki@breezenewspapers.com, please email