Shores plans to cut property tax rate once again

Shores plans to cut property tax rate once again

Town of Indian River Shores officials plan to reduce the property tax rate again for the second consecutive year. The proposed tax rate of $1.24 per $1,000 of taxable property value is a 3.4 percent decrease from the current rate of $1.28 per $1,000 in taxable value. Due to the town’s 7.3 percent increase in assessed values, this reduced rate will still bring in enough cash to fund soaring employee healthcare premiums and provide 4-percent raise…