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Comprehensive Plan Capital Improvements Element <br />Figure 6.10 displays the funds made available <br />to Indian River County through the half -cent <br />local government sales tax over the last six <br />fiscal years. Over those six fiscal years, Indian <br />River County's half -cent sales tax revenue <br />decreased 20.78%. <br />Occasionally, governments can receive <br />supplemental distributions by meeting special <br />eligibility criteria; however, in no case can the <br />total supplemental and ordinary distribution <br />exceed the maximum per capita amount <br />allowed by law. Governments are allowed <br />wide latitude in using the half cent sales tax. <br />For counties, the law provides only that half <br />cent sales tax revenue be used for countywide <br />tax relief or countywide programs. <br />• County Revenue Sharing <br />The current structure of the county revenue <br />sharing program consists of two revenue <br />sources. Those sources include 2.90% of net <br />cigarette tax collections and 2.044% of sales <br />and use tax collections. Proceeds are <br />collected by the state and then distributed to <br />eligible counties based on an allocation <br />formula. There are no use restrictions on the <br />distributed revenue; however, there are some <br />statutory limitations regarding those funds <br />being used as a pledge for indebtedness. <br />To receive distribution proceeds through the <br />county revenue sharing program, counties <br />must meet the following criteria: <br />Figure 6.10: Half Cent Sales Tax Revenue <br />$10,000 -- <br />$9,000 $8,747 $8,777 <br />$8,123 <br />$8,000 - $7,588 <br />$ 7,000 $6, 29 <br />$7,000 <br />$6,000 <br />$5,000 ---- <br />$4,000 — <br />$3,000 <br />$2,000 - <br />$1,000 <br />$- <br />2005 2006 2007 2008 2009 2010 <br />■ Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Figure 6.11: County Revenue Sharing <br />$3,500 — --- <br />$ 3,t18 $ 3,084 <br />$3,000 $2,835 $2,850 <br />$2,558 $2,576 <br />$2,500 -- <br />$2,000 <br />$1,500 <br />$1,000 — <br />$500 - - <br />$- <br />2005 2006 2007 2008 2009 2010 <br />® Revenue (in thousands) <br />Source: Indian River County Finance Department <br />(1) Law enforcement officers and firefighters are certified and meet state requirements; <br />(2) Certification of taxable value for a property tax levy is made in a timely and correct manner to <br />the Department of Revenue; <br />Community Development Department Indian River County <br />Adopted November _, 2011, Ordinance 2011-_ <br />14 <br />