The Indian River Board of Education approved a property tax rate of $3.067 per $100 of assessed value for fiscal 2019.
The rate represents a decrease of 3 cents from fiscal 2018. The decrease resulted from reductions to the debt service and tuition components of the overall tax rate. The minor cap component increased slightly while the current expense component remained unchanged.
“We are very pleased to offer this property tax reduction to our residents,” said Superintendent Mark Steele. “This is fourth time in five years that we’ve been able to decrease our overall tax rate and offer savings to the parents and community members who have been so supportive of our schools. I want to thank Director of Business Jan Steele for her hard work in identifying the areas where we could relieve the financial burden to our taxpayers.”