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PROPERTY TAXES <br />The Board of County Commissioners and <br />other taxing entities each set a property tax <br />rate called a "millage rate". This rate is <br />used to calculate overall property taxes. A <br />"mill" is equal to $1 of tax for every $1,000 <br />of assessed property value. The picture <br />below illustrates how each dollar of the <br />County -wide portion of the property tax <br />bill is broken down. The County -wide <br />portion is paid by all property owners <br />within the County boundaries. If you <br />own a home in Indian River County, the tax <br />bill you pay each year funds much more <br />than County Government. Depending on <br />where you live, your tax bill may also <br />include millage rates for taxes paid to cities, <br />such as the City of Vero Beach, or a special <br />taxing district, such as the Sebastian Inlet <br />Taxing District. <br />PRINCIPAL TAXPAYERS <br />1. Florida Power & Light <br />REAL PROPERTY <br />ASSESSED VALUATION <br />$126,936,400 <br />2. Disney Vacation Dev. Inc. <br />77,307,630 <br />3. Windsor Properties <br />51,704,720 <br />4. John's Island Club Inc. <br />39,574,422 <br />5. Bellsouth Communications <br />33,974,999 <br />6. McGuire, Allen Robert Jr. <br />31,078,330 <br />7. Health Care REIT <br />26,267,550 <br />8. MHC Village Green <br />22,366,216 <br />9. Vero Acquisition <br />10. Wells Fargo Bank <br />Principal Taxpayers' Total: <br />22,206,200 <br />21,733,313 <br />$453,149,780 <br />PERCENTAGE OF TOTAL <br />ASSESSED VALUE <br />0.89% <br />0.54% <br />0.36% <br />0.28% <br />0.24% <br />0.22% <br />0.18% <br />0.16% <br />0.16% <br />0.15% <br />3.18% <br />Source: Indian River County Property Appraiser <br />Breakdown of the County -wide Portion of a Property Tax Bill <br />Based on Taxable Value of $200,000 <br />Total Taxes: $3,098.84 <br />For illustrative purposes only. Amounts shown in the example do not include cities, unincorporated areas, or any applicable districts within. <br />Amounts shown are also net of applicable exemption amounts. *Note: The residents of the Town of Indian River Shores are not levied the <br />Emergency Management Services District tax. <br />Ditl'/CO"CIL <br />VD <br />ZOIM <br />THIS NOTE IS LEGAL TENDER <br />FOR ALL DEBTS. PUBLIC AND PRIVATE <br />WASHI.\ <br />e <br />mraJ <br />p� ONE DII] s Tom,., <br />2016 <br />How property taxes <br />are calculated: <br />[Assessed Value of <br />Property minus <br />Exemption(s)] <br />1,000 <br />x Total Millage Rate <br />= Total Property Tax <br />Indian River County <br />School Board <br />7.9550 mills: <br />$1,591.00, 51% <br />Indian River <br />County <br />3.3602 mills: <br />$672.04, 22% <br />Emergency <br />Management <br />Services District* <br />2.2551 mills: <br />$451.02, 15% <br />Special Districts Land Acquisition <br />1.5924 mills: Bond <br />$318.48, 10% 0.3315 mills: <br />$66.30, 2% <br />9 <br />