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Revenue Manual <br />MSTU Fund <br />Ad Valorem Property Tax <br />Fund 004 <br />REVENUE <br />DESCRIPTION: <br />Property taxes computed as a percentage of the value of real or personal property <br />expressed in mills. <br />LEGAL AUTHORIZATION <br />FOR COLLECTION: <br />SPECIAL <br />REQUIREMENTS: <br />Florida Constitution Article VII, section 9(b), further defined in Florida Statutes <br />sections 200.065, 200.071 <br />County Resolution adopted annually for current millage rate. <br />Two public hearings with appropriate public notice. <br />Maximum millage rate is 10.0 mills. <br />SOURCE: <br />AUTHORIZED USE: <br />All Indian River County property owners within the Unincorporated <br />Area. Property owners in the Cities of Vero Beach, Sebastian, <br />Fellsmere, Indian River Shores and Orchid do not pay this tax. <br />All MSTU Fund expenditures. <br />METHOD OF PAYMENT: Property owner pays tax bill to Tax Collector's Office who then remits payment to the <br />County. <br />FREQUENCY OF <br />COLLECTION: <br />APPROXIMATE <br />ANNUAL REVENUE: <br />Annual property taxes are due by March 31St, however a maximum 4% discount is <br />given if paid by November 30th. The discount decreases by 1% for each month paid <br />thereafter. <br />$7,800,000 <br />$10 <br />$9 <br />$8 <br />$7 <br />• $6 <br />c <br />o • $5 <br />2 $4 <br />$3 <br />$2 <br />$1 <br />$0 <br />Historical Revenues <br />$9.33 <br />$7.21 <br />$7.30 <br />2009/10 i 2010/11 m 2011/12 m 2012/13 m 2013/14 <br />12 <br />