Punta Gorda finance director explains property-tax basics, millage comparisons and hurricane-recovery funding

Kristen Simeone, finance director for the City of Punta Gorda, laid out how property taxes are calculated and how those revenues feed municipal services during a public presentation to residents on Oct. 12, 2025. Simeone described what millage rates are, how homestead exemptions and statutory caps affect taxable value, and how hurricane damage and federal reimbursements affect the city budget.

Simeone said property tax "is also known as an ad valorem tax," calculated on a percentage of a property's taxable assessed value, and added that "the millage rate is how we determine the total property tax that you would see on your tax bill." She emphasized that a homeowner's assessed value for market purposes can be higher than the taxable assessed value used for taxes because exemptions and state caps reduce the taxable figure.

The presentation explained two common Florida limitations: a 3% annual assessment cap for homesteaded properties (often called Save Our Homes) and a 10% cap sometimes applied to non‑homesteaded properties. Simeone said those caps mean a new buyer can face a higher taxable value on purchase because the prior owner's taxable value had been limited by…