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Now browsing: Hometown News > News > Indian River County

Newly approved budgets are active
Rating: 2.36 / 5 (14 votes)  
Posted: 2013 Oct 11 - 06:41

By Jessica Creagan

jcreagan@hometownnewsol.com

INDIAN RIVER COUNTY -- October marks the first month in the 2013-14 fiscal budget year cycle for many governing boards in Indian River County.

Some boards expect to see revenue increase on ad valorem taxes, either through rate increases or a slight rise in property values. Here is a roundup of what some of the municipalities and other taxing districts finalized for the 2013-14 budget year.

The town of Indian River Shores approved a budget of approximately $6.03 million, which includes $1.3 million in capital expenditures for new vehicles for the public safety department.

The property tax rate set by members of the town council is the same rate as last year at $1.47 for $1,000 in taxable value.

A home valued at $200,000 after tax exemptions would be taxed $294.

Although the rate is the same, a slight increase to property values indicates the town could see an increase in ad valorem tax revenue of about $30,000.

In the town of Orchid, the new budget is $1.22 million, about 7.6 percent higher than last year.

The property tax rate was set at 49 cents per $1,000 of taxable value. The rate is the roll back rate, a rate that will give a taxing body the same amount of revenue as the previous year.

A property owner in Orchid with a home valued at $200,000 after tax exemptions would see a bill of $98.

The budget for the Sebastian Inlet District is set for $12.1 million. The budget includes several capital or infrastructure improvement projects, including a winter project to expand the sand trap in the middle of the inlet where offshore sand settles.

Overall, the 2013-14 budget is a 7 percent decrease from the previous budget year.

The property tax rate set by the inlet commissioners is 11 cents per $1,000 of taxable value, which is the same rate as last year, and approximately what the rate was in the 1980s.

A property owner in the district with a home valued at $150,000 after tax exemptions can expect a bill of $16.50.

The Indian River Mosquito Control District set their new budget at $5.11 million, an overall 13.8 percent decrease from the 2012-13 budget year.

The approved property tax rate for the district is 27 cents per $1,000 in taxable value and is a roll back rate.

A property owner in the district with a home valued at $150,000 after tax exemptions can expect a bill of $40.50.

The Florida Inland Navigation District's new fiscal year budget is $83.76 million and includes a number of capital improvement projects which are expected to generate close to 2,000 jobs, primarily in construction.

The district was created to fund continued management and maintenance of the Atlantic Intracoastal Waterway in Florida.

Between infrastructure and capital improvement projects for the 2013-14 year, and combining partnership funding with FIND, the investment in the district's project soars to $243 million.

The property tax rate set for the district is the same rate as the 2012-13 year, roughly 4 cents per $1,000 in taxable value.

A property owner in the district with a home valued at $150,000 after tax exemptions can expect a bill of $60.

The St. Johns River Water Management District newly adopted budget is $135.5 million and includes funding for the construction of the Fellsmere water management area and the second phase of the canal re-diversion project in Indian River and Brevard counties.

The water management district, which oversees 18 counties in northeast and east-central parts of the state, set a property tax rate of 33 cents per $1,000 of taxable value.

A property owner in the district with a home valued at $150,000 after tax exemptions can expect a bill of $49.50.

For part one of the budget and property tax rate roundup, see the Oct. 4 edition of Hometown News.




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