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Last fall the Charlotte County Board of Supervisors (BOS) unanimously voted to approve a temporary lower personal property tax rate.

That low rate may be coming to an end but is still lower than the previous year’s rate of $3.95 per $100 of assessed value.

It was at the Oct. 4 BOS meeting that members voted to enact the temporary personal property tax rate of $2.60 per $100 of the assessed value of the personal property, which was $1.35 per $100 of assessed value less than previous rate.

The decreased tax rate was noted to be effective for the Fiscal Year 2022, which began on July 1, 2021, and will extend to June 30, 2022.

With June right around the corner the BOS is looking at changing that rate and proposes to increase the personal property tax levy effective in Fiscal Year 2023.

According to county documents the BOS proposes to adopt a tax rate of $3.25 per $100 of assessed value. The difference between the current tax rate and the proposed rate would be $ .65 per $100.

In an anticipation of adopting the proposed rate a public hearing will be held on Monday, April 18, in the Conference Room of the County Administration Building immediately following the public hearing on the proposed FY-22/23 Budget which begins at 6 p.m.