The municipalities of Indian River County are in the final days of approving budgets for the 2025-2026 fiscal year. The upcoming fiscal year begins Oct. 1. Final decisions will be made between Sept. 4 and Sept. 25.
Countywide property values increased from 2023-2024 — $29 billion to $31 billion, a 7.6% increase. However, property value increases did slow from the prior year, when Indian River’s values were up 10.3%, from $26.6 billion to $29.2 billion.
“It’s a reflection of the current state of things,” said Indian River County Property Appraiser Wesley Davis. “The rate of increase has cooled, but property values are still generally rising.”
Pending final approval, each municipality has proposed increasing millage rates above the rollback rates, which would keep the amount of revenue unchanged in the new budget year. Even though a tax rate doesn’t rise, an owner’s tax bill can go up if a property’s value goes up.
Fellsmere
The city’s first budget hearing held Sept. 16, and the second is scheduled for 6 p.m., Sept. 25 in City Hall. Total taxable property in the city is valued at $180 million, a 7.7% increase from 2024-2025.
Tax rate: $6.00 per $1,000 of taxable value.
Budget: $24.8 million
Why is this a tax increase? The proposed tax rate is 15.34% greater than the rollback rate of $5.20, which is the rate the city would have to levy to bring in the same amount of money as the current year.
Indian River County
The county’s final budget hearing is scheduled for 5:01 p.m., Sept. 17 in County Commission chambers. The total taxable property in the unincorporated county is $17.6 billion, an 8% increase from 2024-2025.
Tax rate: $3.55 per $1,000 of taxable value.
Budget: $157 million
Why is this a tax increase? The proposed tax rate is 6.7% greater than the rollback rate of $3.33, which is the rate the county would have to levy to bring in the same amount of money as the current year.
Tensions rose between the Sheriff’s Office and County Commission in the months leading up to the budget. Sheriff Eric Flowers inititally requested an 18.9% increase, or $14.6 million. However, he lowered his request to 15.5%, or $12.2 million, to $91.1 million.
The county initially offered a $4.7 million increase, or 6%, then increased the offer to $6.8 million, or an 8.7% increase to $85.7 million. The County Commission has said its increased offer is to specifically fund deputies’ raises.
Indian River Shores
The Shores adopted its budget Sept. 16. The total taxable property in the town is $5.7 billion, an 8.9% increase from 2024-2025.
Tax rate: $1.28 per $1,000 of taxable value.
Budget: $10.4 million
Why is this a tax increase? The adopted tax rate is 4.51% greater than the rollback rate of $1.23, which is the rate the town would have to levy to bring in the same amount of money as the current year.
Orchid
Orchid held its first budget meeting Sept. 11, and will hold its second at 4 p.m., Sept. 19 in Town Hall. The total taxable property value in Orchid is $688 million, a 10.5% increase from 2024-2025.
Tax rate: $0.75 per $1,000 of taxable value.
Budget: $1.64 million
Why is this a tax increase? The tentative tax rate is 14.5% greater than the rollback rate of $0.65, which is the rate the town would have to levy to bring in the same amount of money as the current year.
Sebastian
Sebastian held its first budget meeting Sept. 15, and will hold its second at 6 p.m. Sept. 24, in City Hall. The total taxable property value for the city is $2.5 billion, a 7.4% increase from 2024-2025.
Tax rate: $3.45 per $1,000 of taxable value.
Budget: $50.1 million
Why is this a tax increase? The tentative tax rate is 14.3% greater than the rollback rate of $3.01, the rate the city would have to levy to bring in the same amount of money as the current year.
Vero Beach
Vero Beach held its first budget meeting Sept. 4, and its second on Sept. 16. The total taxable value for the city is $4.8 billion, a 5.8% increase from 2024-2025.
Tax rate: $2.98 per $1,000 of taxable value.
Budget: $35.9 million
Why is this a tax increase? The tax rate is 15% greater than the rollback rate of $2.59, which is the rate the city would have to levy to bring in the same amount of money as the current year.
Nick Slater is TCPalm’s Indian River County Watchdog reporter. You can reach him at Nick.Slater@tcpalm.com and 224-830-2875.
This article originally appeared on Treasure Coast Newspapers: Taxes to increase in Indian River County as municipalities finish fiscal 2026 budgets
Reporting by Nick Slater, Treasure Coast Newspapers / Treasure Coast Newspapers
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