Cape Council’s budget workshop begins today
Cape Coral City Council’s summer budget workshop kicks off today.
The meeting will be begin at 9 a.m. and if needed, continue on Friday, June 5, beginning at the same time, in City Council chambers, 1015 Cultural Park Blvd.
The meeting will be streamed live on Cape TV, and made available on demand.
The first day will include a budget overview and development, 2027 requested budget, 2027 general fund, 2026 general fund charts, ad valorem taxes and taxable revenue, proposed tax relief, debt services, fire facilities, charter school athletic fields, department budgets, structural balance, and funding discussion and wrap up.
The proposed Fiscal Year 2027 budget – all funds requested budget submitted by City Manager Michael Ilczyszyn – is $1,504,837,279, and a general, or operating fund budget, of $279,115,077, both excluding program modifications.
As submitted, the budget includes a millage rate of 5.1471 for general obligation, 81% cost recovery for fire service assessment revenue, 11% increase in water and sewer rates, 4.49% increase in stormwater rates, and 5% increase in solid rates.
It also includes requested program modifications of $53,725,025 for the total general fund and $180,872,958 for the total all funds.
A deeper discussion will be made about the tax relief proposal.
According to the presentation, a state-proposed constitutional change, which does not apply to school taxes, would increase the homestead exemption to $150,000 of assessed taxable value on Jan. 1, 2027, and to $250,000 of assessed taxable value on Jan. 1, 2028. The amendment to the state state constitution also would reduce the non-homestead property assessment annual cap from 10% to 5% per year.
A super-majority of state voters — 60% – would have to approve the amendment proposed by Gov. Ron DeSantis and passed in the Special Session this week.
The presentation goes into detail of the deficit the city could face if passed.