TAXES
According to the Tax Foundation, in 2013 the State of Florida was the 24th lowest state as far as local-state tax burden. See all the Florida data by clicking here.
Keep in mind that Florida does NOT have a state income tax. This is one of the major reasons that Florida has one of the lowest tax burdens in the country. Overall Florida also has low property taxes.
Click here to review all taxes by state so that you may have a fair comparison of individual taxes that might effect your finances. This information supplied by "RetirementLiving.com".
One of the major reasons for retirement in Florida is the overall low tax burden on individuals.
FLASH NEWS: Sebastian is ranked 34th in a new book entitled "Top 100 Cheapest Places to Retire" by Thomas Corley from the Rich Habits Institute, Rahway, NJ. Corley is quoted as saying "...the town's fishing village qualities and exceptional natural beauty attract retirees to Sebastian." The book was published in October 2011.
PROPERTY TAXES:
Residential real estate taxes are assessed and collected by Indian River County. Many retirees will be eligible for additional valuation exemptions, ultimately lowering your property tax payment. The following are the exemptions available. For further information, click here for the Indian River County Tax Appraiser or click here for the Indian River County Tax Collector.
Exemption Information
- $50,000 Homestead Exemption
- Additional Homestead Exemption for Persons 65 and older
- $500 Widow's and Widower's Exemption
- $500 Exemption for Blind Persons
- $500 Disability Exemption
- Exemption for Totally and Permanently Disabled Persons
- $5,000 Disability Exemption for ex-service member
- Service Connected Total and Permanent Disability Exemption
- Homestead Property Tax Discount for Veterans Age 65 and Older with a Combat Related Disability
- Reduction in Assessment for Living Quarters of Parents or Grandparents
The following information details property tax payment schedules and discounts available.
Florida law provides for certain discounts on CURRENT TAXES if they are paid before March of the following year. Discounts are accepted according to the POSTMARK of your payment. Tax bills are mailed out in November of each year and the following discounts are allowed for early payment:
- 4% if paid in November
- 3% if paid in December
- 2% if paid in January
- 1% if paid in February
- Gross taxes become due in March
At the present time (March 2013) the total millage rate for all taxes in Sebastian, including Indian River County, Indian River County School District and other taxing jurisdictions is 19.8617 mills per $1,000 of assessed valuation.
SALES TAX
The State of Florida has a uniform state sales tax of 6%. Each county has a local option sales tax. In Indian River County there is an added 1% sales tax making our total sales tax 7%.
Basic food and medicine items are not taxed.
STATE TAXES
Florida does not have an income or inheritance tax. However, you should click here to check Florida State government for complete information, especially on inheritance taxes.
UTILITIES
ELECTRIC
Electricity is supplied by Florida Power and Light (FPL). FPL claims that it has the lowest electric rates in the state of Florida. An annual average electric bill for a 2000 square foot home is approximately $175.00 per month. This estimate is typical for a single-family residence using air conditioning, hot water, pool equipment and normal household electric load.
WATER/SEWER
In most locations within Sebastian, water is supplied by Indian River County Utility Department. There are a few areas served by County sewers, especially along the waterfront. Some areas have their own wells.
Typical County water costs run between $20-$30 per month.
TELECOMMUNICATIONS
Basic telephone service is provided by AT&T.; Cable television and internet connections are provided by AT&T; and Comcast. Comcast also offers telephone service. The local and county government television channels are provided by Comcast. Satellite communication via DirectTV is also available.
GAS
Natural gas is not available in the area. Many homes have propane gas on site for emergency generators, cooking, pool heating and hot water.
By January 2013, new natural gas mains were installed at the edge of Sebastian. Plans call for future gas line branches into the City proper. As of March 2013, no firm dates have been set for natural gas expansion iinto Sebastian.
TELEVISION
Sebastian is located in the West Palm Beach television market (ADI or area of dominant influence).
