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Revenue Manual <br />General Fund <br />Ad Valorem Property Tax <br />Fund 001 <br />REVENUE Property taxes computed as a percentage of the value of real or personal property <br />DESCRIPTION: expressed in mills. <br />LEGAL AUTHORIZATION Florida Constitution Article VII, section 9(b), further defined in Florida Statutes <br />FOR COLLECTION: sections 200.065, 200.071 <br />County Resolution adopted annually for current millage rate. <br />SPECIAL Two public hearings with appropriate public notice. <br />REQUIREMENTS: Maximum millage rate is 10.0 mills. <br />SOURCE: All Indian River County property owners. <br />AUTHORIZED USE: All General Fund expenditures. <br />arIN <br />METHOD OF PAYMENT: Property owner pays tax bill to Tax Collector's Office who then remits payment to the <br />County. <br />FREQUENCY OF Annual property taxes are due by March 311t, however a maximum 4% discount is <br />COLLECTION: given if paid by November 30th. The discount decreases by 1% for each month paid <br />thereafter. <br />APPROXIMATE $41,000,000 <br />ANNUAL REVENUE: <br />$50 <br />$48 <br />$46 — <br />$44 — <br />$42 — <br />c <br />$40 — <br />$38 — <br />$36 — <br />$34 <br />$32 -- <br />$30 — <br />Historical Revenues <br />—$47.17 <br />2009/10 0 2010/11 0 2011/12 0 2012/13 0 2013/14 <br />4 <br />2,fP • v <br />