Rate Breakdown

Property taxes in Indian River County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Indian River County

In Indian River County, property taxes are calculated by applying the local millage rate to the assessed value of a property. The county assessor’s office determines the assessed value each year by reviewing market data, recent sales, and any improvements made to the land or structures. This value is expressed as a percentage (often called the “assessment ratio”) of the market value; for most residential properties in Florida, the assessment ratio is 100% of the market value.

Once the assessed value is set, the total tax bill is derived by multiplying that value by the combined millage rate. A mill represents one‑tenth of one cent ($0.001) per dollar of assessed value. Indian River County’s millage rate is a combination of the county rate, city or town rates, and special district rates (such as school districts, water management districts, and fire protection districts). These rates are adjusted annually by each governing body and are published on the county tax collector’s website before the tax bills are issued.

For example, if a home is assessed at $250,000 and the combined millage rate is 13.5 mills, the tax calculation would be:

• Assessed Value: $250,000
• Combined Millage Rate: 13.5 mills (or 0.0135)
• Annual Property Tax: $250,000 × 0.0135 = $3,375

Available Exemptions

Florida offers several exemptions that can significantly lower your taxable base. The most common exemptions applicable to Indian River County residents include:

• Homestead Exemption: Up to $50,000 for primary residences. The first $25,000 applies to all property taxes, while the second $25,000 excludes school taxes.
• Senior Citizen Exemption: Residents age 65 or older may qualify for an additional $5,000 exemption on the assessed value.
• Disability Exemption: Qualifying disabled persons can receive a $5,000 exemption, similar to the senior exemption.
• Veteran Exemptions:
  • Disabled veterans may receive up to $5,000;
  • Veterans who are 65 or older may claim a $5,000 exemption;
  • Surviving spouses of veterans who died as a result of service may receive a $5,000 exemption.
• Save Our Homes (SOH) Cap: While not an exemption, the SOH amendment caps the annual increase in assessed value at 3% or the change in the Consumer Price Index, whichever is lower, protecting long‑term homeowners from large tax jumps.

Payment Schedule & Deadlines

Indian River County issues property tax bills each November. Homeowners have two standard payment options:

• Full payment: Due by March 31 of the following year. Paying the entire amount on time avoids any interest charges.
• Installment plan: Half of the bill is due on November 1 (or the date the bill is mailed) and the remaining half is due by March 31.

If a payment is missed or submitted after the March 31 deadline, a 10% delinquency surcharge is added, followed by a 2% monthly interest charge on the unpaid balance. Continued non‑payment can lead to tax lien placement, tax deed sale, or foreclosure proceedings.

Appealing Your Assessment

If you believe your property has been over‑assessed, you have the right to appeal the value before the Value Adjustment Board (VAB). Follow these steps:

• File a petition: Submit a written petition to the Indian River County Property Appraiser’s Office by July 31 of the tax year in question.
• Gather evidence: Provide comparable sales, recent appraisals, photographs, or contractor estimates that support a lower market value.
• Attend the hearing: The VAB will schedule a hearing, typically within 30 days of receiving your petition. You may present your evidence in person or via a qualified representative.
• Receive a decision: The board will issue a written decision. If the outcome is unsatisfactory, you may appeal further to the Florida Department of Revenue within 60 days.

Timely filing and thorough documentation are crucial for a successful appeal, so start the process as soon as you receive your assessment notice.