Grants that are expected to pay for the town's two big-ticket projects next year will help the town keep the property tax rate the same as this year. Residents could still see an increase in their tax bill because of rising property values.
An average Indian Shores home assessed at $119,000 with a homestead exemption would pay $159.80 in taxes.
Total tax bills are affected not only by the property tax, but also by assessment value and taxes from other agencies, such as the county and the School Board.
For fiscal 1996-97, which begins Oct. 1, Indian Shores has proposed a general fund budget of $1.25-million, according to finance director Betty Doster.
The town has grants pending for two big projects: a $54,000 median beautification program and a $60,000 drainage improvement project on Second Street E.
The Town Council will have a budget workshop at 5 p.m. Tuesday at Town Hall. Public meetings will be at 7 p.m. Aug. 21 and Sept. 4 at Town Hall.
Once preliminary tax rates are turned in to the county, they can be decreased but not increased by town officials.
Figuring your taxes
Indian Shores is proposing a 1996-97 tax rate of 1.7 mills, the same as this year. A mill is equal to $1 for every $1,000 of assessed taxable property value. To determine your town taxes, take the assessed value of your home and subtract the $25,000 homestead exemption if you qualify. Divide that number by 1,000 and multiply by 1.7.