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Ellis Hunter thought that in some ways our property taxes are <br />still equitable, but he could not understand how the appraised <br />value of property can go up while so many houses are not saleable. <br />He wanted the County to consider that taxation may be getting out <br />of control. <br />John Welton, citizen of Indian River County, spoke in <br />opposition to any increase in taxes. He stated that if the <br />proposed budget is adopted, taxes on his house will go up $375. He <br />cited the example of Bridgeport, Connecticut which is now bankrupt <br />because of taxation. He asked why the County cannot "float a bond" <br />where the County can make money and the people can save money. <br />OMB Director Baird explained that a bond would have to be <br />repaid by the public, and Commissioner Scurlock explained that a <br />bond is a long term debt and he was opposed to that idea. <br />It was determined that no one else wished to be heard and the <br />Chairman closed the public hearing. <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Bird, the Board unanimously approved a <br />tentative millage rate of 1.4455 for the Municipal <br />Service Taxing Unit for FY 1992/93. <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Bird, the Board unanimously approved a <br />tentative budget of $12,977,869 for FY 1992/93. <br />1992/93 <br />GENERAL OBLIGATION LIBRARY BONDS <br />1. Amount of millage reflected on TRIM notices is 3042 . <br />2. This is the same as our proposed millage. <br />3. Rolled -back millage does not apply to voter approved debt. <br />- If it did, this would be a 5.74% decrease <br />4. Proposed budget $1,669,017 - a $56,835 decrease over last years. <br />0*1 <br />L_ SEP Bow 87 mt514 <br />