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Last modified
2/18/2025 3:04:30 PM
Creation date
10/5/2015 9:07:11 AM
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Ordinances
Ordinance Number
2010-024
Adopted Date
11/02/2010
Agenda Item Number
10.A.1.
Ordinance Type
Comprehensive Plan Text Amendment
State Filed Date
11\09\2010
Subject
Capital Improvements Element 2030 Comprehensive Plan
Supplemental fields
SmeadsoftID
9011
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Comprehensive Plan Capital Improvements Element <br />uses for revenue collected from the Ninth Cent Fuel Tax include paying the costs and expenses of <br />establishing, operating, and maintaining a transportation system and related facilities. Additional uses <br />include funding the acquisition, construction, reconstruction, and maintenance of roads. <br />The One to Five Cent Local Option Fuel Tax is a one to five cents tax that can be levied upon every <br />gallon of motor fuel sold in Indian River County. Revenues from this fuel tax must be shared among <br />all eligible jurisdictions in the county as a result of an interlocal agreement or by an historical <br />transportation expenditures formula. Authorized uses for revenue collected from the One to Five <br />Cent Fuel Tax include transportation expenditures needed to meet the requirements of the Capital <br />Improvements Element of the Comprehensive Plan. <br />A Professional Sports Franchise Facility Tax is a levy of up to I% on any lodging agreement for six <br />months or less. Revenue from this tax may be used to pay the debt service on bonds issued to finance <br />the construction, reconstruction, or renovation of a professional sports franchise facility. <br />State Sources <br />Revenue classified as state sources may be generated locally but collected by the state and returned to <br />the county. For example, state sources may originate from state general revenues and be shared by the <br />state according to state revenue allocation formulas. Table 6.1 displays the state revenue sources <br />applicable to Indian River County. These sources are described in further detail below. <br />• Local Government Half -Cent Sales Tax <br />The Local Government Half Cent Sales Tax <br />Program allocates 8.814% of net sales tax <br />proceeds remitted by sales tax dealers in a <br />county to a special account administered by <br />the Department of Revenue; this account is the <br />Local Government Half Cent Sales Tax <br />Clearing Trust Fund. These funds are then <br />earmarked for distribution to the governing <br />body of the county and each municipality <br />within the county. Distribution of these <br />monies within the county is determined by a <br />formula that uses a weighting factor based on <br />the population of the incorporated and <br />unincorporated areas and multiplies this factor <br />by 8.814% of the sales tax proceeds received <br />for the county. In FY 2008/09, Indian River <br />County received $7,000,000 through the half - <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 $7,564 $7,588 <br />$7,000 <br />$7,000 <br />$6,000 <br />$5,000 <br />$4,000 <br />$3,000 <br />$2,000 <br />$1,000 <br />$- <br />2004 2005 2006 2007 2008 2009 <br />® Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Community Development Department Indian River County <br />Supplement #_; Adopted November_, 2010, Ordinance 2010-_ 13 <br />
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