Important news for Southwest Florida Real Estate. Just last week, city manager John Szerlag proposed a plan that would assist in the development of Cape Coral
Florida real estate. His plan is to raise $21 million a year to make up for the sagging property taxes and to catch up with capital needs ignored by previous city leaders. This figure would mean that an average homeowner would have to pay an additional $152 a year. The $152 figure is for a resident whose property is valued at $150,000.
According to Szerlag,“The good news is that we’ve paused time, and we can get off the path to blight.”
However, they have discussed the possibility of a new public service tax that will be tied to the electricity usage and fire assessment calculations partly, by the square footage of the Cape Coral property. The council is set to have another meeting this Wednesday.
According to the report of news-press.com, the ordinance that will establish the public service tax will be introduced on April 29. This is a temporary timeline. The council will have to vote on May 13. On the other hand, the resolution for the fire assessment would be introduced July 22 and this measure would be effective on Oct. 1.
Szerlag said that the taxes and assessments hike would possibly be permanent. However, it could be mitigated by a future reduction in the property tax rate once the city is in better straits. Moreover, the additional revenue would go to pension reforms and other efficiencies that will be determined by the city in the future.
Although many residents are struggling and are thinking of how they will be able to afford the new tax ordinance, there are those who are willing to give up luxuries in order to have a better city. Resident Nancy Patti said, “Stop smoking, going to the bar, get rid of your cable, no movies, you know,” Patti added. “I’m sorry, make a sacrifice.”
Councilman Kevin McGrail on the other hand said that the cost to residents of maintaining a city worth living in is nominal. McGrail said, “Fifteen dollars a month? I’m on board. I’m happily on board,” McGrail He added, “My grandchildren live in this town. I want to give them a city that they can be proud of.”