Lowering property taxes in Cape Coral is the goal for people living there since the city is working on two versions of a new budget as inflation raises prices.
It’s unknown whether property owners will save money because the continued growth of Cape Coral has raised property value.
Cape Coral resident Wanda Corbett and others are doing double takes when they look at their bills.
“You see your grocery bill and you go what,” said Corbett.
That forces people to make decisions to save as much as they can on everything they can.
“I did travel but not the cruises I used to do,” said Corbett. “Now it’s traveling and seeing the important things: grandchildren and family.”
Cape Coral resident Damian Piquera shared his thoughts on ways to save money.
“Checking different products that you would normally buy,” said Piquera. “See if you can you know a little savings here and there to help out.”
Piquera considers himself lucky that inflation hasn’t forced him to drastically change his habits. But, the recent rise in his electric bill has him a bit more aware.
“It’s been 40-50 bucks extra every month,” said Piquera. “So it’s just sadly we have to be more mindful if I’m leaving the lights on. You know is the AC staying on when we’re not home.”
Cape Coral leaders know people in their city are struggling and that is part of their 2023 budget discussions reducing the property tax rate to ease the stress.
Rob Hernandez is the Cape Coral city manager and he shared some thoughts with WINK News.
“We’re not deaf to it,” said Hernandez. “And so we felt it was very important working with city council to ensure that we propose a budget that provides some property tax relief to our taxpayers.”
People will see annual savings anywhere between $104 to $146 for a home assessed at $279,000.
“It would be helpful,” said Piquera. “So I mean lower the taxes the better.”
So if the assessed value of your home goes up higher than any proposed property tax rate cut, you’ll still pay more in property taxes. Cape Coral city council is split on how much the tax rate reduction will be and the city council will vote on the budget on Sept. 22.