How to Read Your Tax Bill – Terminology
Market Assessed Value
The price the Property Appraiser estimates the property would sell for on the open market as of the effective date for the assessed value for the year in question. The market assessed value is based on actual historical sales of similar properties for a specified study period.
Cap Assessed Value
The assessed value of property after application of Florida Save Our Homes cap, which limits the increase in value for property tax purposes.
Homestead Exemption Value
Every person who owns and resides on real property in Florida on January 1 and makes the property his or her permanent residence is eligible to receive a homestead exemption up to $50,000. This amount is deducted from the assessed value of the property to determine taxable value. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption up to $25,000 was approved by voters in 2008 and applies to the assessed value between $50,000 and $75,000 and only to non-school taxes.
The assessed value of property minus any authorized exemptions (e.g. homestead exemption, Save Our Homes, senior exemption). This value is used to determine the amount of property (ad valorem) tax to be levied.
Combined Tax & Assessment Amount
The total tax bill including all property taxes, exemptions, fees and assessments.
Ad Valorem Taxes
Another term for "property taxes."
A rate applied to a property’s taxable value to determine property tax due. As used with ad valorem (property) taxes, the rate expresses the dollars of tax per $1,000 of taxable value. Example: A 5-mil tax rate on a home with a taxable value of $100,000 would equal $500 in property taxes.
Lee County Taxing Authorities
Property tax bills have several taxing authorities represented on the bill other than the City of Cape Coral. When Cape Coral property owners receive their tax notices, they will find 13 different taxing authorities with their own separate millage rates and tax amounts. The City of Cape Coral’s property tax portion is represented on the bill as “City of Cape Coral.”
Lee County General Revenue
Funds the County-provided services within the entire geographic area of the county. This includes incorporated cities in Lee County, such as Cape Coral, as well as unincorporated areas. Tax rate is set by Lee County’s Board of County Commissioners.
Public School – By Local Board
Provides funding for Lee County Public School system as determined by the Lee County School District. Tax rate is set by Lee County School Board. Note: Public School taxes (local and state) are about 48 percent of the total tax bill.
Public School – By State Law
Provides funding for the public school system in the state of Florida. Tax rate is set by the Florida Legislature. Note: Public School taxes (local and state) are about 48 percent of the total tax bill.
City of Cape Coral
Provides revenue for the general operations of the City of Cape Coral. This includes police, fire, public works, parks and recreation, etc. Tax rate is set by the Cape Coral City Council. Note: Cape Coral portion is about 30 percent of total tax bill.
Lee County All Hazards – MSTU
Provides funding for the Emergency Management operations within Lee County. Tax rate is set by Lee County’s Board of County Commissioners.
Lee County Library Fund
Provides funding for the Lee County library system. Tax rate is set by Lee County’s Board of County Commissioners.
City of Cape Coral Solid Waste – MSTU
Provides funding for the Lee County Waste-to-Energy Disposal facility. Tax rate is set by Lee County’s Board of County Commissioners.
SFL Water Management – District Levy
The South Florida Water Management District is one of five regional districts charged by the state to preserve and protect Florida’s water resources. Its mission is flood control, water supply, and water quality. SFWMD is the largest of the five districts and covers 16 counties
SFL Water Management – Everglades Construction
This tax is levied by the South Florida Water Management District to support the design, construction, and acquisition of the Everglades Construction Project.
SFL Water Management – Okeechobee Levy
This tax is levied by the South Florida Water Management District on all properties within the Okeechobee Basin to provide funds for expenditures related to the Basis area.
Lee County Hyacinth Control
Lee County Hyacinth Control District is the local government agency for management of nuisance aquatic vegetation in the waterways of Lee County, including the Caloosahatchee River and its tributaries. The Lee County Board of County Commissioners serves as the board for the Hyacinth Control and sets the tax rate.
Lee County Mosquito Control
Lee County Mosquito Control District protects the public health in Lee County by controlling mosquitoes throughout the area. The Lee County Board of County Commissioners serves as the board for Mosquito Control and sets the tax rate.
West Coast Inland Navigation District
The West Coast Inland Water District preserves and enhances the commercial, recreational, and ecological values of waterways within the District by maintaining public navigation channels and inlets, boating access facilities, waterfront parks, and piers. The District encompasses Manatee, Sarasota, Charlotte, and Lee counties.
Non-Ad Valorem Assessments – Taxing Authority
City of Cape Coral Fire Service Assessment
The Fire Service Assessment provides a dedicated funding source for the provision of fire protection services and facilities. The FSA applies to all properties in Cape Coral and will begin appearing on the property tax bill in November 2014.
City of Cape Coral Solid Waste Assessment
The Solid Waste Assessment is the annual cost for solid waste, recycling and yard waste collection services in Cape Coral. Cape Coral has one of the lowest rates in Southwest Florida.
City of Cape Coral Stormwater Annual
The Stormwater Annual Assessment provides funding for the City of Cape Coral’s stormwater management system, which includes swale maintenance, weir and culvert maintenance, catch basin and drainpipe maintenance, canal dredging and street sweeping.
Other non-ad valorem assessments that may be included on the tax bill:
- Water/sewer/irrigation assessments (identifited by the Utilities Extension Project Name such as Southwest 1, Southwest 2, Southeast 1 etc.)
- Lot mowing fees