Indian River Shores proposes lower millage, projects $10.5M budget and $6.2M reserves

The Town of Indian River Shores on July 24 presented a proposed 2025–26 budget that reduces the town millage rate from 1.3349 to 1.281 and budgets $10.5 million across all funds, with projected reserves of about $6.2 million as of Sept. 30, 2026.

The reduction in the millage rate is intended to limit the average tax increase to roughly 4.2%, town staff said. Heather Christmas, town treasurer, said the total budgeted expenditures across all funds are $10,500,000, down from $12,800,000 in the prior year primarily because one-time projects are finishing.

Town treasurer Heather Christmas said, “This budget does include a reduction in the millage rate from 1.3349 to 1.281.” She told council the decrease in total spending reflects completion of one-time projects — including road work and the public safety building remodel — and not ongoing cuts, and that the proposed plan does not rely on reserves to fund continuing operations.

Why it matters: the town’s primary revenue source is property taxes, and staff said average taxable values rose about 8.73% year over year. By lowering the town millage rate rather than holding it steady, officials said the town will absorb part…