VILLAGE CONNECTION – Village of Estero Welcomes Public Input on Budget
CAPITAL IMPROVEMENT PLAN
The majority of the Village’s budget — 81% — appropriates funding for capital improvements. The Fiscal Year 2025-2026 Plan focuses on quality of life, beautification, bicycle and pedestrian safety, traffic improvements, park improvements, utility improvements, and information technology improvements. Projects within the plan are adopted as part of the budget approval process. Public input is encouraged.
TAXES TO REMAIN LOW
State Shared Revenue projections are stable and increasing slightly, according to the Florida Department of Revenue. The Village has set the maximum millage rate to 0.73 mills, the same rates as Fiscal Year 2024-25. The Village maintains the lowest tax rate in the Southwest Florida region.
RESPONSIBLE GOVERNMENT
On November 21, 2024, national credit rating agency Standard & Poor’s (S&P) Global Ratings assigned a bond rating of “AAA” to the Village of Estero. This is the highest rating possible in the nation, shared by only one other community in Southwest Florida (Naples) and only seven cities in the state of Florida.
The benefit of securing a credit rating is that the financial markets pay less for debt (in the form of lower borrowing costs — translated to lower interest rates) for top-quality debt. Thus, a bond issued for a 20-year term would typically pay significantly less in interest each year for the entire term of the bond. Typically, local governments have a variety of debts including pension debt and general obligation debt. The Village currently has no debt of any type. The Village issued debt of $24.5 million for the purchase of property that became the Estero River Park. That debt was initially issued in 2018 as a 20-year bond but was fully paid off in just four years.
BUDGETING WITH A PURPOSE
Each year, the Village undertakes a thorough review of community needs and matches these to projects within the Village’s budget. The annual process can be summarized as follows:
- Planning and studying
- Capital Improvement Plan adoption
- Performance data review
- Public hearings and budget adoption
UPCOMING BUDGET MEETINGS
The annual process can be summarized as follows:
- Wednesday, Sept. 10, at 5:05 p.m. — First public hearing on Fiscal Year 2025-26 proposed budget, including millage rate
- Wednesday, Sept. 17, at 5:05 p.m. — Second public hearing on Fiscal Year 2025-26 proposed budget, including millage rate
Attend live: Village of Estero Council Chambers — 9401 Corkscrew Palms Circle
Attend virtually: www.estero-fl.gov — Virtual comment cards are available on the website, so your voice can still be heard.
ur voice can still be heard.