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Comprehensive Plan Capital Improvements Element <br />charges. <br />Table 6.1 shows that traffic impact fees represented 5.17% of funds collected by Indian River County <br />for FY 2003/04. Figure 6.5 displays the impact fee revenue collected by Indian River County over <br />the last six fiscal years. Starting with FY 1999/2000, revenue is for traffic impact fees only This <br />change to capacity charges accounts for the decrease in revenues illustrated in figure 6.5. <br />• Local Discretionary Sales Surtax <br />Local governments are authorized to levy numerous types of local discretionary sales surtaxes <br />pursuant to s. 212.055, F.S. Under the provisions of s. 212.054, F.S., the local discretionary sales <br />surtaxes apply to all transactions subject to the state tax imposed on sales, use, services; rentals, <br />admissions, and other authorized <br />transactions. The surtax is computed by <br />multiplying the rate imposed by the <br />county where the sale occurs by the <br />amount of the taxable sale. This sales tax <br />can be levied on most transactions under <br />$5000. <br />Under this category, Indian River County <br />is eligible to impose a Local Government <br />Infrastructure Surtax of either 0.5% or <br />1.0% and a School Capital Outlay Surtax <br />of up to 0.5%. Currently, Indian River <br />County imposes only the 1.0% <br />Infrastructure Surtax. <br />The Local Government Infrastructure <br />Surtax must be enacted by a majority vote <br />of the Board of County Commissioners <br />and approved by voters in a countywide referendum. This surtax, which may be imposed for a <br />maximum period of fifteen years, was initiated by Indian River County in April, 1989, and was <br />renewed by voters in November, 2002. Generally, the proceeds must be expended to finance, plan, <br />and construct infrastructure; to acquire land for public recreation or conservation or protection of <br />natural resources; .and to finance the closure of local government-owned solid waste landfills that are <br />already closed or are required to close by order of the Department of Environmental Protection. <br />Figure 6.6: Local Discretionary Sales <br />Surtax <br />$14,000 <br />$12,000 <br />$10,000 <br />$8,000 <br />$6,000 <br />$4,000 <br />$2,000 <br />$- <br />1999 2000 2001 2002 2003 2004 <br />Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Table 6.1 shows that local sales surtax revenue represented 6.38% of all funds collected by Indian <br />River County in FY 2003/04. Figure 6.6 displays the Local Discretionary Sales Surtax revenue <br />received by Indian River County over the last six fiscal years. This local revenue source increased <br />Community Development Department Indian River County <br />Supplement #_; Ordinance 2005- <br />6 <br />