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• <br />1 <br />1 <br />Indian River County l Impact Fee Update Study <br />• Proceeds are distributed to a county and its municipalities according to a mutually <br />agreed upon distribution ratio, or by using a formula contained in the Florida <br />Statutes. <br />Each year, the Florida Legislature's Office of Economic and Demographic Research (EDR) <br />produces the Local Government Financial Information Handbook, which details the <br />estimated local government revenues for the upcoming fiscal year. Included in this <br />document are the estimated distributions of the various fueLtax revenues for each county <br />in the state. The 2013-14 data represent projected fuel: tax' distributions to Indian River <br />County for the upcoming fiscal year. In the table, tlie'fuel,,tax revenue data are used to <br />calculate the value per penny (per gallon of fuel) that should be used to estimate the <br />• <br />"equivalent pennies" of other revenue sources: -=Table D-1 shows the distribution per penny <br />for each of the fuel levies, and then the calculation of the weighted average for the value of <br />a penny of fuel tax. The weighting procedure°takes into ,account the,diiffering amount of <br />revenues generated for the various types of gas'tax revenues' The weighted average figure <br />of approximately $0.74 million estimates the annual. -revenue that one penny of gas tax <br />generates in Indian County. <br />Table D-1 • <br />Estimated FuelTax Distribution Allocated to Capital Programs for <br />`Indian River County & Municipalities, FY 2013-14i1i <br />Tax <br />j <br />ConstitutionalFuel Taz-,, <br />Amount of Levy <br />per Gallon <br />`->^$0.02 <br />Total <br />Distribution j <br />$1,592,578 <br />Distribution Per <br />Penny _ <br />$796,289 <br />County Fuel Tax` <br />` $0.01 <br />$701,978 <br />$701,978 <br />1st Local Option (1-6 cents) <br />_ ~` $0.06 <br />$4,364,623 <br />$727,437 <br />Total\ -,- <br />$0.09 <br />$6,659,179 <br />WeightedAverage _ .! <br />$739,909 <br />1) Source. Florida Legislature's Office of Economic and Demographic Research, <br />http://edr.state.fl.us/content/local-government/reports/ <br />(2) The weighted average -distribution per penny is calculated by taking the sum of the total <br />distribution and dividing that value by the sum of the total levies per gallon (multiplied <br />by 100). <br />Gas Tax Credit <br />A revenue credit for the annual gas tax equivalent expenditures on roadway capacity <br />expansion projects in Indian River County is presented below. The two components of the <br />credit are as follows: <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 <br />D-2 Impact Fee Update Study <br />