The Southwest Florida Water Management District Governing Board on Tuesday adopted its fiscal year 2012-13 millage rate and budget.

The Governing Board adopted a FY2012-13 millage rate of 0.3928 mill, which is the same as the current fiscal year. A mill is equal to $1 in taxes for every $1,000 of a property’s taxable value. FY2012-13 will run from Oct. 1, 2012, through Sept. 30, 2013. With taxable property values declining by
2.9 percent, this rate
will result in a $3 million reduction in ad valorem property tax revenue. For the owner of a $150,000 home with a $50,000 homestead exemption, the FY2012-13 district tax would be $39.28 a year, or about $3.27 per month.