What is homestead exemption?
The Florida Constitution provides that a home owner may apply for, and receive, a homestead exemption in the amount of $25,000 plus an additional $25,000 above the just value of $50,000 on his or her principle residence. After property is appraised by the County Property Appraiser, up to $50,000 is subtracted from the appraised value; the remainder is the taxable value upon which the property tax rate is applied.

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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?