Understanding Cape Coral Assessments
Over the past 25 years Cape Coral has been installing public utilities (water, sewer, irrigation) to parts of the city. The Southeast section was the first quadrant where utilities were installed, and assessments in this area are fully paid for on both homes and lots.
The average cost of utility installation has been between $17,000 - $20,000. A property owner has the option of paying off the entire cost when installed (often at a discount) or paying it off over a 20 year period with an interest charge. This is the option chosen by the vast majority of property owners. The average yearly cost is $1,200 to $1,400, depending on year of installation, and this cost is added to your yearly property tax bill at the end of the year. Should you sell the property the remaining utility balance is passed on to the subsequent owner.
If you are interested in a Cape Coral property and wish to know the remaining assessment balances and the yearly cost, you can verify at LEEPA.org or Sue can check on it for you.
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