Taxes

 

 

TAXES

 

According to the Tax Foundation, in 2015 the State of Florida was the 20th lowest state as far as local-state tax burden.  See all the Florida data by clicking here.

 

Keep in mind that Florida does NOT have a state income tax. This is one of the major reasons that Florida has one of the lowest tax burdens in the country. Overall Florida also has low property taxes.

 

Click here to review all taxes by state so that you may have a fair comparison of individual taxes that might affect your finances. This information supplied by "RetirementLiving.com".

 

One of the major reasons for retirement in Florida is the overall low tax burden on individuals.

 

 

 

PROPERTY TAXES:

 

Residential real estate taxes are assessed and collected by Indian River County.  Many retirees will be eligible for additional valuation exemptions, ultimately lowering your property tax payment. The following are the exemptions available. For further information, visit the Indian River County Tax Appraiser at www.ircpa.org or the Indian River County Tax Collector at www.irctax.com.

 

Exemption Information

 

    $50,000 Homestead Exemption

    Additional Homestead Exemption for Persons 65 and older

    $500 Widow's and Widower's Exemption

    $500 Exemption for Blind Persons

    $500 Disability Exemption

    Exemption for Totally and Permanently Disabled Persons

    $5,000 Disability Exemption for ex-service member

    Service Connected Total and Permanent Disability Exemption

    Homestead Property Tax Discount for Veterans Age 65 and Older with a Combat Related Disability

    Reduction in Assessment for Living Quarters of Parents or Grandparents

 

The following information details property tax payment schedules and discounts available.

 

Florida law provides for certain discounts on CURRENT TAXES if they are paid before March of the following year. Discounts are accepted according to the POSTMARK of your payment. Tax bills are mailed out in November of each year and the following discounts are allowed for early payment:

 

    4% if paid in November

    3% if paid in December

    2% if paid in January

    1% if paid in February

    Gross taxes become due in March

 

At the present time (August 2015) the total millage rate for all taxes in Sebastian, including Indian River County, Indian River County School District and other taxing jurisdictions is 18.1239 mills per $1,000 of assessed valuation.

 

 

 

SALES TAX

 

The State of Florida has a uniform state sales tax of 6%. Each county has a local option sales tax. In Indian River County there is an added 1% sales tax making our total sales tax 7% for Sebastian.

 

Basic food and medicine items are not taxed.

 

 

 

STATE TAXES

 

Florida does not have an income or inheritance tax. For complete information on Florida State inheritance taxes, visit www.myflorida.com.

 

 

 

UTILITIES

 

• ELECTRIC

Electricity is supplied by Florida Power and Light (FPL). FPL claims that it has the lowest electric rates in the state of Florida. An annual average electric bill for a 2000 square foot home is approximately $175.00 per month. This estimate is typical for a single-family residence using air conditioning, hot water, pool equipment and normal household electric load.

 

• WATER/SEWER

In most locations within Sebastian, water is supplied by Indian River County Utility Department. There are a few areas served by County sewers, especially along the waterfront. Some areas have their own wells.

 

Typical County water costs run between $20-$30 per month.

 

• TELECOMMUNICATIONS

Basic telephone service is provided by AT&T. Cable television and internet connections are provided by AT&T and Comcast. Comcast also offers telephone service. The local and county government television channels are provided by Comcast and AT&T UVerse. Satellite communication via DirectTV is also available.

 

The City of Sebastian has its own 24/7 television channel that runs on Comcast Channel 25 and AT&T UVerse Channel 99.  The City also streams its television channel on the Internet.  Most public meetings are aired live on these facilities. Replays of all City public meetings are available on YouTube at file “City of Sebastian”.

 

• GAS

Natural gas is available in certain parts of Sebastian, mainly along major roads such as CR512.  U.S. Rout 1 and Indian River Drive.   the area. Many homes have propane gas on site for emergency generators, cooking, pool heating and hot water.

 

• TELEVISION

Sebastian is located in the West Palm Beach television market (ADI or area of dominant influence).