Commercial development adds big tax revenues to Charlotte County

Author: Nancy Semon, Gulfshore Business
Published: Updated:
Credit: Charlotte County government

In 2024, ad valorem tax revenues in Charlotte County are expected to triple from 2023, Economic Development Director Dave Gammon told county commissioners May 28. 

Using data supplied from Property Appraiser Paul Polk, Gammon showed the tax dollar amounts that commercial developments are contributing to the county. 

In 2023, the ad valorem tax contributed $307,940 based on assessments of $49,893,126 and ad valorem taxes of $785,414. Projected in 2024 is a $935,000 ad valorem tax contribution based on $150 million in assessments and ad valorem taxes of $2.3 million. 

In 2026, when it’s expected that currently planned commercial developments will be completed, Charlotte County’s share of the ad valorem tax is estimated to be $1.8 million, based on a projected $285 million assessed valuation and $4.4 million in ad valorem taxes, Gammon said. 

To read more at Gulfshore Business, click here.

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.