Millage Rate & TRIM
The Council is required to set a tentative millage rate each year to submit to the Tax Collector, which results in the TRIM (TRuth In Millage) statement that property owners receive each August. As the final millage rate may be set at a lower level but never higher, the TRIM notice may contain a higher than adopted rate.
The chart at this link shows the proposed versus adopted millage rates since 2002.
The public is invited to participate in the budget process, which follows this procedure:
- A workshop is held to discuss tentative general fund budgets, usually in July.
- The Finance Committee is involved in an advisory capacity to the Council and meets prior to that workshop.
- Once a tentative budget is set with the maximum millage rate for property tax, the TRIM notices are distributed.
- The Town is required by the State to hold two public hearings in September before the final budget is adopted each year.
Indian River County publishes a typical annual tax bill in their comprehensive budget each year. The rate for the Town of Indian River Shores, unlike the rest of the County, does not include the cost for an Emergency Services District (Fire and EMS). Instead, the Town residents have this service included within their ad valorem tax because of our unique triple-certified Public Safety Department, which serves the Town's residents' needs for police, fire and EMS. Even though the residents of the Town are obligated to pay County taxes and for the 2004 Land Acquisition Bonds, they still receive the lowest possible tax rate in the County, followed by all other incorporated areas, with the highest rate being charged in the unincorporated areas.