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Principal Taxpayers
<br />The following table sets forth the principal property taxpayers in Indian River
<br />County, Florida for Fiscal Year 2024 (relating to taxes levied in tax/calendar year 2023):
<br />Indian River County, Florida
<br />Principal Property Taxpayers (Unaudited)
<br />Florida Power & Light
<br />Disney Vacation Dev. Inc.
<br />John's Island Club, Inc.
<br />MPT of Sebastian -Steward, LLC
<br />Welltower TCG Ridea Landlord, LLC
<br />TSO Vero -Beach, LP
<br />EPC Guardian, LLC
<br />Adult Community Total Services, Inc.
<br />Windsor Properties
<br />GFVT LLC
<br />Total Principal Property Taxpayers Real Property
<br />Assessed Valuation
<br />Total County Taxable Valuation
<br />Fiscal Year 2024
<br />Taxes Levied
<br />% of Total
<br />in thousands
<br />Rank
<br />Taxes Levied
<br />$1,400,050,404
<br />1
<br />5.26%
<br />154,652,913
<br />2
<br />0.58
<br />97,397,766
<br />3
<br />0.37
<br />69,700,220
<br />4
<br />0.26
<br />64,247,752
<br />5
<br />0.24
<br />61,362,828
<br />6
<br />0.23
<br />60,742,348
<br />7
<br />0.23
<br />58,695,402
<br />8
<br />0.22
<br />57,311,178
<br />9
<br />0.22
<br />53,385,100
<br />10
<br />0.20
<br />$2,077,545,911 7.81%
<br />$26,591,753,468
<br />Sources: Indian River County Property Appraiser; Indian River County, Florida annual budgets.
<br />Constitutional Amendments and Legislative Initiatives Affecting Ad Valorem Taxes
<br />Several amendments to the Florida Constitution and Florida legislative initiatives
<br />affecting ad valorem taxes have been approved by voters in the past including, but not
<br />limited to, the following.
<br />Save Our Homes Amendment. By voter referendum held on November 2, 1992,
<br />Article VII, Section 4 of the Florida Constitution was amended by adding thereto a
<br />subsection which, in effect, limits the increases in assessed just value of homestead
<br />property to the lesser of (1) three percent of the assessment for the prior year or (2) the
<br />percentage change in the Consumer Price Index for all urban consumers, U.S. City
<br />Average, all items 1967=100, or successor reports for the preceding calendar year as
<br />initially reported by the United States Department of Labor, Bureau of Labor Statistics.
<br />Further, the amendment provides that (a) no assessment shall exceed just value, (b) after
<br />any change of ownership of homestead property or upon termination of homestead status
<br />such property shall be reassessed at just value as of January 1 of the year following the year
<br />of sale or change of status, (c) new homestead property shall be assessed at just value as of
<br />January 1 of the year following the establishment of the homestead, and (d) changes,
<br />additions, reductions or improvements to homestead shall initially be assessed as provided
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