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Comprehensive Plan Capital Improvements Element <br />State Sources <br />Revenue classified as state sources may be generated locally but collected by the state and returned to <br />the county. Table 6.1 displays the state revenue sources applicable to Indian River County. Those <br />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 county <br />to a special account administered by the <br />Department of Revenue; that account is the <br />Local Government Half Cent Sales Tax Clearing <br />Trust Fund. Those funds are then earmarked for <br />distribution to the governing body of the county <br />and each municipality within the county. <br />Distribution of those monies within the county is <br />determined by a formula that uses a weighting <br />factor based on the population of the <br />incorporated and unincorporated areas and <br />multiplies that factor by 8.814% of the sales tax <br />proceeds received by the county. In FY 2011/12, <br />Indian River County received $7,413,000 <br />through the half -cent sales tax. As shown in <br />Table 6. 1, that amount represented 3.77% of all <br />funds collected by Indian River County during <br />the 2011/12 fiscal year. <br />Figure 6.10 displays the funds made available to <br />Indian River County through the half -cent local <br />government sales tax over the last six fiscal <br />years. Over those six fiscal years, Indian River <br />County's half -cent sales tax revenue decreased <br />8.74%. <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 allowed <br />Community Development Department <br />Adopted , 2013, Ordinance 2013 - <br />Figure 6.10: Half Cent Sales Tax Revenue <br />$8,400 <br />$8,200 $8,123 <br />$8,000 <br />$7,800 $7,568 <br />$7,600 $7,413 <br />$7,400 <br />$7,200 $7,000 $7.075 <br />$7,000 $6,929 <br />$6,800 <br />$6,600 <br />$6,400 <br />$6,200 <br />2007 2008 2009 2010 2011 2012 <br />■Revenue (inthousands) <br />Source: Indian River County Finance Department <br />Figure 6.11: County Revenue Sharing <br />$3,500 <br />$3,084 <br />$3,000 $2,850 $2,751 <br />$2,558 $2,576 $2.660 <br />$2,500 <br />$2,000 <br />$1,500 <br />$1,000 <br />$500 <br />$- <br />2007 2008 2009 2010 2011 2012 <br />■Revenue (inthousands) <br />Source: Indian River County Finance Department <br />Indian River County <br />13 <br />