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Figure 6.5 shows that over seven million dollars of impact fee revenue was collected in FY 2006/07.
<br />Although substantial, that amount was seventeen million dollars less than the amount of impact fees
<br />collected in FY 2005/06 (not shown in Figure 6.5). The substantial amount collected in FY 2005/06
<br />can be attributed to the addition of the eight new impact fees in 2005, the increase in traffic impact
<br />fee rates, and the substantial amount of development occurring during the building boom. The
<br />substantial decrease in the amount collected in
<br />FY 2006/07 and in subsequent years can be
<br />attributed to the slowing economy and the
<br />additional decline in impact fee revenue related
<br />to the suspension of several impact fees starting
<br />in FY 2008/09.
<br />Local Discretionary Sales Surtax
<br />Pursuant to s. 212.055, F.S, local governments
<br />are authorized to levy numerous types of local
<br />discretionary sales surtaxes. Under the
<br />provisions of s. 212.054, F.S., the local
<br />discretionary sales surtaxes apply to all
<br />transactions subject to the state tax imposed on
<br />sales, services, rentals, admissions, and other
<br />authorized transactions. The surtax is computed
<br />Figure 6.6: Local Discretionary Sales
<br />Surtax
<br />$15,000
<br />$14,500
<br />$14,000
<br />$13,500
<br />$13,000
<br />$12,500
<br />$12,000
<br />0 ONE 1
<br />$11,500
<br />-,-
<br />2007 2008 2009 2010 2011 2012
<br />â– Revenue (in thousands)
<br />i
<br />by multiplying the rate imposed by the county Source: Indian River County Finance Department
<br />where the sale occurs by the amount of the taxable sale. This sales tax can be levied on most
<br />transactions under $5,000.
<br />According to state law, Indian River County is eligible to impose a Local Government Infrastructure
<br />Surtax of either 0.5% or 1.0%. Currently, Indian River County imposes the 1.0% Infrastructure
<br />Surtax.
<br />Procedurally, the Local Government Infrastructure Surtax must be enacted by a majority vote of the
<br />Board of County Commissioners and approved by voters in a countywide referendum. That surtax,
<br />which may be imposed for a maximum period of fifteen years, was imposed by Indian River County
<br />in April, 1989, and was renewed by voters in November, 2002. Generally, the proceeds must be
<br />expended to finance, plan, and construct infrastructure; to acquire land for public recreation or
<br />conservation or protection of natural resources; or to finance the closure of local government-owned
<br />solid waste landfills that are already closed or are required to close by order of the Department of
<br />Environmental Protection.
<br />Table 6.1 shows that local sales surtax revenue represented 6.97% of all funds collected by Indian
<br />River County in FY 2011/12. 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 decreased
<br />by 5.78% over that period.
<br />Community Development Department Indian River County
<br />Adopted , 2013, Ordinance 2013- 6
<br />by multiplying the rate imposed by the county Source: Indian River County Finance Department
<br />where the sale occurs by the amount of the taxable sale. This sales tax can be levied on most
<br />transactions under $5,000.
<br />According to state law, Indian River County is eligible to impose a Local Government Infrastructure
<br />Surtax of either 0.5% or 1.0%. Currently, Indian River County imposes the 1.0% Infrastructure
<br />Surtax.
<br />Procedurally, the Local Government Infrastructure Surtax must be enacted by a majority vote of the
<br />Board of County Commissioners and approved by voters in a countywide referendum. That surtax,
<br />which may be imposed for a maximum period of fifteen years, was imposed by Indian River County
<br />in April, 1989, and was renewed by voters in November, 2002. Generally, the proceeds must be
<br />expended to finance, plan, and construct infrastructure; to acquire land for public recreation or
<br />conservation or protection of natural resources; or to finance the closure of local government-owned
<br />solid waste landfills that are already closed or are required to close by order of the Department of
<br />Environmental Protection.
<br />Table 6.1 shows that local sales surtax revenue represented 6.97% of all funds collected by Indian
<br />River County in FY 2011/12. 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 decreased
<br />by 5.78% over that period.
<br />Community Development Department Indian River County
<br />Adopted , 2013, Ordinance 2013- 6
<br />
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