Laserfiche WebLink
Indian River County I 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 fuel tax 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, the 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 /> "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 differing 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 Fuel Tax Distribution Allocated to Capital Programs for <br /> Indian River County& Municipalities, FY 2013-1411 <br /> Tax Amount of Levy Total • • <br /> perGallon Distribution <br /> Constitutional Fuel Tax $0.02 $1,592,578 $796,289 <br /> County Fuel Tax $0.01 $701,978 $701,978 <br /> 1st Local Option (1-6 cents) $Q.06 14164.,623 $727,437 <br /> Total $0.091 $6,659,1791 1 <br /> Weighted Average(2) $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 /> June 2014 D-2 Impact Fee Update Study <br /> 23 � <br />