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Home My WebLink About1995-138RESOLUTION NO. 95-138 A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, SUPPORTING PARTIAL -YEAR AD VALOREM ASSESSMENTS WHEREAS, property taxes are the primary source of revenue for public education (K-12) and public safety, including fire protection, law enforcement and corrections; and WHEREAS, local governments lose millions of dollars each year because structures are taxed as of January 1, and not from the date of completion or date of occupancy, which, in some cases, allows no ad valorem taxes to be paid on a structure for up to 28 months, while at the same time the property owner is receiving municipal or county services; and WHEREAS, this tax-free period causes other taxpayers in the community to subsidize new development, with some estimates indicating that property owners annually provide over $60 million in property tax subsidies to new development (FY91 - $93 million; FY 92 - $63 million; FY 93 - $80 million); and WHEREAS, equitable partial -year assessments ensure the link between changes in the property value and the tax levy during each year; and will ensure monies to provide law enforcement for new development; and WHEREAS, we believe growth must pay for itself. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA that the Board strongly supports the concept of equitable partial -year assessments of ad valorem taxes on property for the portion of a year in which new construction is completed. RESOLUTION NO. 95-138 The resolution was moved for adoption by Commissioner Eggert and the motion was seconded by Commissioner Tiepin , and, upon being put to a vote, the vote was as follows: Chairman Kenneth R. Macht Aye Vice Chairman Fran B. Adams Aye Commissioner Richard N. Bird Absent Commissioner Carolyn K. Eggert Aye Commissioner John W. Tippin Aye The Chairman thereupon declared the resolution duly passed and adopted this 24 day of October, 1995. BOARD OF CTY COMMISSIONERS INDIAN ROn, COUNT FLORIDA WSJ Chairman Att.est;. u J -K.�ar.t Clerk