Laserfiche WebLink
Comprehensive Plan Capital Improvements Element <br />Table 6.1 shows that county revenue sharing funds represented 1.09% of all funds collected by Indian <br />River County in FY 2008/09. Figure 6.11 shows that, over the last six fiscal years, county revenue <br />sharing proceeds received by Indian River County varied over time, but overall decreased by 11.61 %. <br />• Constitutional Fuel Tax <br />Constitutional fuel tax is defined as an <br />excise or license tax of two cents per <br />gallon imposed upon the first sale or first <br />removal from storage (after importation <br />into Florida) of motor fuel. Revenues <br />from this levy become state funds at the <br />time of collection by the refiner, importer <br />or wholesaler. <br />In its current form, the constitutional fuel <br />tax is a state -shared revenue source for <br />counties only. Applying a distribution <br />formula, the state allocates proceeds to <br />counties to the extent necessary to <br />comply with all obligations to or for the <br />benefit of holders of bonds, revenue <br />certificates, and tax anticipation <br />certificates or any refunds secured by any <br />portion of the tax proceeds. After <br />complying with the necessary debt service <br />obligations, the state distributes a county's <br />surplus funds to its governing body. <br />Table 6.1 shows that revenue received from <br />the constitutional fuel tax levy represented <br />0.67% of total revenue received by Indian <br />River County in FY 2008/09. Figure 6.12 <br />shows that, over the last six fiscal years, <br />constitutional fuel tax revenue received by <br />Indian River County decreased 5.35%. <br />• County Fuel Tax <br />The county fuel tax is levied on motor fuel <br />at the rate of one cent per net gallon. The <br />FIGURE 6.12: Constitutional Fuel Tax Revenue <br />$1,800 <br />$'I763 <br />$1,750 $1726 $1,715 <br />$1,700 $ t664 <br />$1,650 $ 1615 <br />$1,600 $1575 <br />$1,550 <br />$1,500 <br />$1,450 <br />2004 2005 2006 2007 2008 2009 <br />■ Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Figure 6.13: County Fuel Tax <br />$800 <br />$779 $Iso <br />$Iso <br />$760 $757 <br />$ 742 <br />$740 <br />$720 $710 <br />$700 $690 <br />$680 <br />$660 <br />$640 <br />2004 2005 2006 2007 2008 2009 <br />® Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Community Development Department <br />Supplement #_; Adopted November _, 2010, Ordinance 2010-_ <br />Indian River County <br />15 <br />