INDIAN RIVER COUNTY, FLORIDA
<br />NOTES TO FINANCIAL STATEMENTS - CONTINUED
<br />Year Ended September 30, 1988
<br />3. Property Tax Revenuess
<br />Property tax revenues recognized for the 1987-88 fiscal year were levied in October,
<br />1987. Virtually all unpaid taxes are collected via the sale of tax certificates
<br />prior to fiscal year and, therefore, there were no material taxes receivable at
<br />fiscal year and.
<br />Key dates in the property tax cycle (latest date where appropriate) are as follows:
<br />Revenues for Fiscal Year
<br />Ending September 30, 1988
<br />Assessment roll certified June 26, 1987
<br />Property taxes levied October 12, 1987
<br />Data of lien October 12, 1987
<br />Beginning of fiscal year for
<br />which taxes have been levied October 1, 1987
<br />Tax bills rendered November 1, 1987
<br />Property taxes payable:
<br />Maximum discount November 30, 1987
<br />Delinquent April 1, 1988
<br />Tax certificates sold on
<br />unpaid property taxes June 1, 1988
<br />4. Property, Plant and Equipment:
<br />A. General Fixed Assets - A summary of changes in the General Fixed Assets Account
<br />Group follows:
<br />Total
<br />Buildings Property,
<br />and Construction Plant and
<br />Land Improvements Equipment In Progress Equipment
<br />Balance at
<br />October 1,
<br />1987 $12,512,128 $12,536,079 $11,077,629 $ 5,225,713 $41,351,549
<br />Additions 473,282 4,854,322 2,769,982 1,180,491 9,278,077
<br />Deletions 347,750 - 920,394 5,438,138 6,706,282
<br />Balance at
<br />Septem-
<br />ber 30,
<br />1988 S12.6� 631,660 $17,390,401 512.927 7 S 968,066 $43.923,344
<br />23.
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