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TO: BOARD COUNTY COMMISSIONERS DATE: March 28, 1985 FILE: <br />FROM: <br />\LCD <br />Jeffrey K. Barton <br />Budget Officer <br />SUBJECT: ADDITIONAL 50 DOCUMENTARY STAMP ON <br />REAL ESTATE TRANSACTIONS <br />REFERENCES: <br />The attached record from the Clerks Office shows Documentary Stamp purchases <br />at the 45t/$1,000 from October 1982 to February 1985. <br />If the proposed tax had been in place, Indian River County would have received <br />the following increased revenues from the 5t/$1,000 additional tax: <br />FY 82-83 $230,000 <br />FY 83-84 260,000 <br />FY 84-85 225,000 <br />PROJECTED <br />This same proposal has been supported before the Florida State Legislator for <br />the last three years by the Florida Association of Home Builders as an alternative <br />to impact fees. <br />Commissioner Scurlock reported that there have been <br />consistent problems all across the state in struggling with <br />growth and the Governor has suggested that we look to impact <br />fees. As a result, the County is considering an increase in <br />documentary stamps. Rather than go ahead an authorize some <br />sort of resolution to the State Legislature, he felt a <br />better approach would be to refer this matter to the <br />Financial Advisory Committee to come up with a <br />recommendation on additional sources of revenue which would <br />include a consideration of documentary stamps, the gas tax, <br />impact fees and a combination of all new sources. He felt <br />there should be a broad approach to come up with ways that <br />can meet not only the existing demand on our infrastructure <br />but also the backlog which exists in our community. <br />APR 101985 <br />80 BOOK CO Py.f.,'E511 <br />