Board backs FY27 assessment levels after PFM shows overall decrease

The South Amelia Island Shore Stabilization Association Board of Trustees voted to recommend that Nassau County accept the association’s FY27 capital and maintenance assessment levels after an updated presentation from PFM.

Kevin Fensler of PFM told trustees the updated methodology—prepared consistent with the model the board approved in 2020–2021 and using current county property-appraiser data—shows a decrease in the capital assessment of approximately 5.6%, a roughly 19% decline on maintenance and an aggregate assessment decrease of just under 11%. "On an aggregate basis, total assessment, it's just under an 11% decrease," Fensler said. He gave examples showing oceanfront unit assessments moving from an average of $498 in FY26 to $445 in FY27.

Trustees asked whether the maintenance drop would repeat next year; PFM and board members said the maintenance decline was driven in part by an off-year for a monitoring contract (about $150,000) and a lower annual debt-service requirement on the capital side, so the exact pattern may not repeat. After discussion, John Hall moved and Mary Oxtel seconded a motion to notify Nassau County commissioners that the board recommends acceptance of the capital assessment (amounted in the packet at $6,537.63). The motion carried by voice vote. A separate motion recommending the county accept the maintenance assessments was also approved.

Why it matters: the recommendations set the assessment amounts that property owners will see reflected on their November property tax bills and determine funding available for renourishment, monitoring and maintenance in the coming fiscal year.