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One daily newspaper is published in the County. There are five local radio stations. Television reception is good for the major commercial stations and cable is available to the County. Telephone service is supplied by Southern Bell. Vero Beach Electric System and Florida Power & Light Company supply electricity. LOCAL AND STATE TAXES Florida has no individual state income tax. Inheritance tax is confined to the amount allowed as a credit to the State from the tax levied by the United States government. The 6% regular sales tax plus the 1% local option sales tax applies to all items except groceries and medicines. Under the Florida Homestead Exemption law, no municipal or county taxes are levied against the first $25,000 for valuation of a home occupied by its owners except for special assessments. It is a state law that all tax appraisals must be at 10D% of value. The Florida corporate tax is 5.5% with an exemption and no surcharge. The Board of County Commissioners of Indian River County is limited by the Constitution of Florida to an ad valorem tax levy of 10.0 mills per $1,000 of assessed value for operating expenditures, with an additional 10.0 mills within special created municipal servict taxing units. All taxes are due and payable on November 1 of each year or as soon thereafter as the assessment roll is certified and delivered to the Tax Collector. All unpaid taxes become delinquent on April 1 following the year in which they are assessed. Discounts are allowed for early payment at the rate of 4% in the month of November, 3% in the month of December, 2% in the month of January and 1% in the month of February. The taxes paid in March are without discount. Delinquent taxes on real property bear interest of 18% per year. On or prior to June 1 following the tax year, certificates are sold for all delinquent taxes on real property. After sale, tax certificates bear interest of 18% per year or at any lower rate bid by the buyer. Application for a tax deed on any unredeemed tax certificates may be made by the certificate holder after a period of two years. Unsold certificates are held by the County. Delinquent taxes on personal property bear interest of 18% per year until the tax is satisfied either by seizure and sale of the property or by the five-year statute of limitations. The County does not accrue its portion of the County -held certificates due to the immaterial amount. The following tables provide statistical information on the County's tax collection history, assessed property values, debt structure and principal taxpayers: A-6