Assistant City Manager Casey Lucius made a presentation at a workshop meeting per an article in a local newspaper. I know Ms. Lucius did a survey of 393 municipalities, but that doesn’t help Marco Island Budgeting Process.
We have to evaluate our needs and budget accordingly. Due to the gift from Collier County 1% Sales Tax Revenue of $3.5 million annually since 2019 -2023 the City was able to continue with Millage Roll Back Rate. Fact, the voters of Marco Island voted against the 1% Sales Tax. Mr. Grifoni is proud of that accomplishment, but in reality, that was not the way to go.
Annually, the City Budget puts $5,000,000 into the General Fund Bucket List for Capital Improvement Projects (CIP) for replacement of current infrastructure and new CIP. That process was established while I was on City Council, by City Manager Hernstadt. Since then INFLATION has occurred to probably more than 30% and NO adjustment was made to the reserves. That number PROBABLY should be $6.5 million.
Property owners know how to read their tax bill. If additional revenue is required, Council should increase the Millage Rate so they only get their money from one of our pockets, rather than trying to find money in another of our pockets to get additional revenue.
Based on the latest Taxable Value $16,313,426,527 for Marco Island a Millage Rate Increase of 0.01 = $157,425.00, and Millage Rate Increase of 0.10 =$1,574,246.00
Property Value of $1,000,000 Millage Rate increase of 0.10 = $100.00 increase in property tax. Not a BIG DEAL!!
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