Laserfiche WebLink
Comprehensive Plan Capital Improvements Element <br />Local Sources <br />Local sources consist of revenues that are levied, collected and disbursed at the local level solely at <br />the discretion of Indian River County. Those local sources are shown in Table 6.1 and are described <br />in further detail below. <br />Ad Valorem Taxes (Property Taxes) <br />i <br />Ad Valorem taxes are taxes levied' <br />on the assessed value (net of any <br />_ } . ' �� <br />exemptions) of real and personal <br />property. This tax is commonly <br />„ <br />referred to as "property tax." Ad <br />valorem taxes are generally <br />assessed in mills; that is, <br />sw�ooa <br />thousandths of a dollar of assessed <br />value. The state mandated millage <br />cap is 10 mills per local <br />government, excluding voted <br />. .:. <br />millages. In FY 2021/22, Indian <br />°" <br />River County imposed an aggregate <br />voo± <br />millage rate of 6.1226. According <br />to County policy, ad valorem taxes <br />may be used for both operating and <br />capital project expenditures. <br />Table 6.1 shows that, in FY 2021/22, Indian River County collected approximately $121,641,000 <br />in ad valorem taxes. In FY <br />