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Figure 6.7 shows the Tourist Development Tax revenue received by Indian River County over the last six fiscal years. During that time period, tourist tax revenue received by Indian River County fluctuated based on market conditions, but had an overall increase of 10.77%. Local Option Fuel Tax Local governments are authorized to levy up to twelve cents of local option fuel taxes in the form of three separate levies. Those levies are: ➢ a one to six cent local option fuel tax; ➢ a one to five cent local option fuel tax; and ➢ a ninth cent fuel tax. Indian River County currently imposes the full six cents of the one to six cent fuel tax. That tax applies to every net gallon of motor and diesel fuel sold within the county. The one to six cent fuel tax may be authorized by an Figure 6.8: Local Option Fuel Tax Revenue $3,400 $3,350 $3,300 $3,250 $3,200 $3,150 $3,100 $3,050 $3,000 In 111119-10111 0 11111111 $2,950 in 0 01111 0 $2,900 In 0 01111 0 $2,850 In M111 0 01111 0 2007 2008 2009 2010 2011 2012 ■Revenue (in thousands) Community Development Department Indian River County If ordinance adopted by a malonty vote of the Source: Indian River County Finance Department governing body or voter approval in a county- wide referendum. Generally, the proceeds may be used to fund transportation expenditures. Table 6.1 shows that local option fuel tax revenue represented 1.61 % of all funds collected by Indian River County for FY 2011/12. Figure 6.8 shows that local option fuel tax revenue for the county has fluctuated, decreasing to its lowest point in FY 2007/08 and peaking in FY2009/ 10. One reason for the limited gas tax revenues in FY 2007/08 is that fuel prices were quite high and fuel consumption by consumers slowed (less traveling). The rebound in local option fuel tax revenue in FY 2009/10 can be attributed to a number of factors, including an increase in the local option fuel tax distribution rate from the state from 71.12% in 2007/08 to 72.58% in 2009/10. The subsequent reduction in local option fuel tax revenue can be attributed to increased gas prices. All sixty-seven Florida counties levy a portion of the original local option fuel tax. While sixty-six counties levy the full $0.06, one county levies only a portion of the tax. Table 6.3 identifies the local fuel taxes levied in Indian River County and in other counties in the region. As shown in Table 6.3, Saint Lucie, Martin, Okeechobee, and Palm Beach counties all levy the highest allowable fuel taxes at $0.12 per gallon. Those four counties impose both the Ninth Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax. While Indian River County is eligible to levy the Ninth -Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax either by extraordinary vote of the Board of County Commissioners or by voter approval in a countywide referendum, it does not currently levy either tax. At this time, fifty-one of the sixty-seven Florida Adopted , 2013, Ordinance 2013- 9