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Council sets preliminary maximum millage at 1.23 mills for 2025; staff flags seawall costs and state appropriation
Summary
Council set the preliminary maximum millage rate at 1.23 for the general fund, with East Naples Bay and Moorings Bay taxing districts left at prior levels; staff presented preliminary taxable‑value scenarios, fund‑balance projections and noted a pending state appropriation and seawall expenditures that affect reserves.
City Council set a preliminary maximum millage rate of 1.23 mills for the general fund on Wednesday and left two special taxing districts at their prior levels: East Naples Bay at 0.5 mills and Moorings Bay at 0.0125 mills.
Context and mechanics: The action establishes a not‑to‑exceed millage that will appear on TRIM (Truth in Millage) notices. Staff emphasized the resolution establishes a maximum; actual millage for the adopted budget may be set lower during public hearings in August/September.
Financial outlook: Interim Finance Director Stefan Massall presented preliminary taxable values and several forecast scenarios. Under staff's midline projection and a 1.23‑mill rate, projected ad valorem proceeds for the general fund were roughly $45.15 million (a projected increase of about $2.95 million compared with the prior year). Staff noted the projection is preliminary; final taxable values arrive July 1.
Seawalls and state funding: Staff and City Manager Gary Young highlighted planned capital draws for seawall repairs funded in part from prior insurance/settlement proceeds and noted a pending state appropriation of approximately $3.75 million that would materially reduce planned seawall spending from reserves. Council members and staff discussed future needs for a larger, dedicated funding approach (such as a referendum) for resiliency and stormwater projects.
Vote and next steps: The council voted unanimously to set the maximum millage at the stated levels. Staff will receive final taxable values on July 1, post TRIM notices in August and return to council in the August/September budget cycle with recommended millage and a budget proposal.
What to watch: Final taxable values on July 1 could change the revenue picture; staff said they will return with more detailed budget recommendations and are tracking state assistance and planned capital draws for seawalls and related resiliency work.
