Laserfiche WebLink
Indian River County i Impact Fee Update Study <br /> Credit Component <br /> This appendix presents the detailed calculations for the credit component. Currently, in <br /> addition to the capital support that ultimately results from State fuel tax revenues, Indian <br /> River County also receives financial benefit from several other funding sources. Of these, <br /> County fuel taxes that are collected in Indian River County are listed below, along with a few <br /> pertinent characteristics of each. <br /> 1. Constitutional Fuel Tax(2C/gallon) <br /> • Tax applies to every net gallon of motor and diesel fuel sold within a county. <br /> Collected in accordance with Article XII, Section 9 (c) of the Florida Constitution. <br /> • The State allocated 80 percent of this tax to Counties after first withholding amounts <br /> pledged for debt service on bonds issued pursuant to provisions of the State <br /> Constitution for road and bridge purposes. <br /> • The 20 percent surplus can be used to support the road construction program within <br /> the county. <br /> • Counties are not required to share the proceeds of this tax with their municipalities. <br /> 2. County Fuel Tax(1C/gallon) <br /> • Tax applies to every net gallon of motor and diesel fuel sold within a county. <br /> • Primary purpose of these funds is to help reduce a County's reliance on ad valorem <br /> taxes. <br /> • Proceeds are to be used for transportation-related expenses, including the reduction <br /> of bond indebtedness incurred for transportation purposes. Authorized uses include <br /> acquisition of rights-of-way; the construction, reconstruction, operation, <br /> maintenance, and repair of transportation facilities, roads, bridges, bicycle paths, <br /> and pedestrian pathways; or the reduction of bond indebtedness incurred for <br /> transportation purposes. <br /> • Counties are not required to share the proceeds of this tax with their municipalities. <br /> 3. 1St Local option Tax(up to 6C/gallon) <br /> • Tax applies to every net gallon of motor and diesel fuel sold within a county. <br /> • Proceeds may be used to fund transportation expenditures. <br /> • To accommodate statewide equalization, all six cents are automatically levied on <br /> diesel fuel in every county, regardless of whether a County is levying the tax on <br /> motor fuel at all or at the maximum rate. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 D-1 Impact Fee Update Study <br /> 23S <br />