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Approved budget: Tick downward in tax rate but not to the 'rollback'

Cape Coral City Council on Thursday passed the city budget for the upcoming 2021 fiscal year at the second and final public hearing at City Hall. Council was also warned that the city faces shrinking reserves in the coming years, as well as great uncertainty created by the pandemic. The elected board approved the “compromise” millage of 6.375, or $6.375 for every $1,000 in taxable property valuation, which was lower than the current rate of 6.4903 mills, but not the rollback rate of 6.2428, the rate at which the city would have brought in the same amount of revenue as increased ...

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