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Comprehensive Plan Capital Improvements Element <br />• Special Assessments <br />Special assessments are compulsory payments <br />levied on real property for specific benefits <br />generated by public investments or services; <br />the assessment levied must fairly reflect the <br />actual costs. of the improvements. County <br />revenues which fall under the general category <br />of special assessments consist of street paving <br />assessments, street lighting district <br />assessments, as well as assessments for water, <br />sewer, and drainage improvements. <br />Expenditures of special assessment revenue <br />are restricted to public improvement projects <br />that directly benefit the property owner or <br />payee. For example, street paving assessment <br />revenues must be spent on paving streets that <br />directly benefit the payer of the assessment. <br />Special Assessment funds represented 0.15% <br />of county funds for FY 2004/05 as shown in <br />table 6.1. Figure 6.4 displays the revenue <br />collected by Indian River County through <br />special assessments over the last six fiscal <br />years. <br />0 Impact Fees <br />An impact fee is any charge, fee, or <br />assessment levied as a condition of issuance <br />of subdivision or site plan approval, issuance <br />of a building permit, approval of a certificate <br />of occupancy, or other development or <br />construction approval when any portion of <br />the revenues collected is intended to fund any <br />portion of the costs of capital improvements <br />for any public facilities. <br />Source: Indian River County Finance Department <br />Source: Indian River County Finance Department <br />Since 1986, Indian River County has levied traffic impact fees on new development projects. In June <br />of 2005, Indian River County began to levy 8 new impact fees. At the same time, the County <br />Community Development Department <br />Indian River County <br />5 <br />