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REVENUE <br />DESCRIPTION: <br />Revenue Manual <br />MSTU Fund <br />Ad Valorem Property Tax <br />Fund 004 <br />Property taxes computed as a percentage of the value of real or personal property <br />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 within the Unincorporated <br />Area. Property owners in the Cities of Vero Beach, Sebastian, <br />Fellsmere, Indian River Shores and Orchid do not pay this tax. fi <br />AUTHORIZED USE: All MSTU Fund expenditures. <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 3111, however a maximum 4% discount is <br />COLLECTION: given if paid by November 3021. The discount decreases by 1% for each month paid <br />thereafter. <br />APPROXIMATE $7,800,000 <br />ANNUAL REVENUE: <br />Historical Revenues <br />$10 <br />$9.33 <br />$9 <br />, $8.11 <br />$ <br />$7 <br />$6 <br />y' <br />c <br />o $5 <br />2 $4 <br />$3 <br />$2 <br />$1 <br />$0 <br />_...... .__ <br />$7.41 $7.21 <br />$7.30 <br />2009/10 U 2010/11 ■ 2011/12 0 2012/13 ■ 2013/14 <br />12 <br />ZS`f•It, <br />