Laserfiche WebLink
One daily newspaper is published in the County. There are <br />five local radio stations. Telephone service is supplied by <br />Southern Bell. Vero Beach Electric System and Florida Power & <br />Light Company supply electricity. <br />LOCAL AND STATE TAXES <br />Florida has no individual state income tax. Inheritance tax <br />is confined to the amount allowed as a credit to the State from <br />the tax levied by the United States government. The 6% regular <br />sales tax. plus the 1% local option sales tax applies to all items <br />except groceries and medicines. <br />Under the Florida Homestead Exemption law, no municipal or <br />county taxes are levied against the first $25,000 of valuation of <br />A home occupied by its owners except for special assessments. It <br />is a state law that all tax appraisals must be at 100% of value. <br />The Florida corporate tax is 5.5% with an exemption and no <br />surcharge. <br />The Board of County Commissioners of Indian River County is <br />limited by the Constitution of Florida to an ad valorem tax levy <br />of 10.0 mills per $1,000 of assessed value for operating <br />expenditures, with an additional 10.0 mills within special <br />created municipal service taxing units. <br />The following tables provide statistical information on the <br />County's tax collection history, assessed property values, debt <br />structure and principal taxpayers: <br />A-9 <br />