What is property rate?

When the Town adopts the annual budget, it determines the tax rate that must be applied on property in order to generate the necessary revenue in addition to all other sources which are available. The current tax rate for the Town of Indian Shores is 1.87000 mills, or $1.87 per $1000 of taxable value. The taxable value of all property in the Town is established by the Pinellas County Property Appraiser. The Town has no control over the taxable value of property; it only has control over the Town's portion of the tax rate that is levied.

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1. What is the purpose of the Town budget?
2. What is a fiscal year?
3. From where does the Town obtain its revenues?
4. How is revenue used by the Town?
5. What is property rate?
6. What is homestead exemption?
7. What is a mill of tax?
8. What is the difference between ad valorem tax and property tax?
9. What is an operating budget?
10. What is a capital improvement budget?
11. What is a fund?
12. What is an enterprise fund?
13. What is a budget appropriation?
14. What is a budget amendment?
15. Who establishes the rules by which the Town of Indian Shores adopts its annual budget and property tax rate?
16. Who is the Chief Executive Officer of the Town of Indian Shores?
17. What are franchise fees, and why does the Town of Indian Shores levy them?