There is welcome news for many taxpayers residing within the Indian River School District, as officials have announced a reduced property tax rate for the 2020 Fiscal Year.
At it’s reorganizational meeting on July 1, the Indian River Board of Education approved the reduced property tax rate, with a new rate of $3.035 per $100 of assessed value. This represents a 3.2 cent decrease from the previous fiscal year.
“This marks the fifth time in six years that we’ve been able to offer a property tax reduction to IRSD residents.” said Superintendent Mark Steele. “These reductions have amounted to a total decrease of 22.7 cents since Fiscal Year 2015. As always, we are pleased to relieve the financial burden on our taxpayers and I want to thank the district finance office for identifying these areas of savings.” he said.
The Indian River School District currently has the lowest school property tax rate in Sussex County.