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Consultant projects $20.5M in new ad valorem growth by 2030; council warns pending state bills could shrink local tax base
Summary
A spatialized growth model shows new residential and commercial development could add about $20.5 million in ad valorem revenue by 2030 (in 2025 dollars); councilors and staff warned that pending state legislation to cap assessed-value growth or change ad valorem rules could substantially alter those projections.
David Farmer, the consultant who mapped 462 growth zones across Cape Coral, told council the city can reasonably expect meaningful new-growth ad valorem revenue from residential and commercial development over the coming decade. Farmer—stimated roughly $20.5 million in additional ad valorem revenue by 2030 (in 2025 dollars) and roughly $66.5million by 2045, holding millage steady for modeling purposes.
Farmer said his model is conservative in several respects: it holds the city's millage constant at…
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