Editorial: Tax windfall

With Southwest Florida property owners continuing to see double-digit increases in the taxable value of their land, Lee County government next year could harvest nearly an additional $140 million.

It is potentially good news for road projects.

In 2005, for the first time, Lee used property taxes to build roads. The county established a loan fund, with a majority going into Estero-area projects, that would get road projects under way now rather than later. Roadwork begins and the loan is paid back through conventional funding in coming years.

With construction costs rising (the current Estero Parkway plan has increased by $17.5 million in just the past year), being able to lock in costs now saves tax dollars.

When combined with impact fees and sales and gas taxes, the use of property taxes for some roadwork is a great idea.

Yet, let’s make sure governments do not get hooked on such funding. The property value bubble will not cling to double-digit increases forever. In the meantime, to coin an ancient phrase, let’s strike while the iron’s hot. If there is a just cause for keeping a property tax windfall rather than rolling back millage, this would be it.