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(7) Pledge the revenues to secure and liquidate
<br />certain limitations.
<br />Figure 6.7 shows the Tourist Development Tax
<br />revenue received by Indian River County over the
<br />last six fiscal years. Since FY 2010/11, Tourist
<br />Development Tax revenue has increased 63.62%.
<br />➢ Local Option Fuel Tax
<br />Local governments are authorized to levy up to
<br />twelve cents of local option fuel taxes in the form
<br />of three separate levies. Those levies are:
<br />➢ a one to six cent local option fuel
<br />tax;
<br />➢ a one to five cent local option fuel
<br />tax; and
<br />➢ a ninth cent fuel tax.
<br />revenue bonds issued by the county, subiect to
<br />Indian River County currently imposes the full six cents of the one to six cent fuel tax. That tax
<br />applies to every net gallon of motor and diesel fuel sold within the county. The one to six cent fuel
<br />tax may be authorized by an ordinance adopted by a majority vote of the governing body or voter
<br />approval in a county -wide referendum. Generally, the proceeds may be used to fund transportation
<br />expenditures.
<br />Table 6.1 shows that local option fuel tax revenue represented 1.50% of all funds collected by Indian
<br />River County for FY 2015/16. Figure 6.8 shows that, between FY 2010/11 and FY 2013/14 there
<br />has been a downward trend with local option fuel tax revenue for the county. That downward trend
<br />ended in FY 2014/15, when local option fuel tax revenue significantly increased. The more recent
<br />increase in local option fuel tax revenue can be attributed to an improving economy and lower fuel
<br />prices which have led to an increase in fuel consumption.
<br />All sixty-seven Florida counties levy the full $0.06 of the original local option fuel tax.
<br />Table 6.3 identifies the local fuel taxes levied in Indian River County and in other counties in the
<br />region. As shown in Table 6.3, Saint Lucie, Martin, Okeechobee, and Palm Beach counties all levy
<br />the highest allowable fuel taxes at $0.12 per gallon. Those four counties impose both the Ninth Cent
<br />Fuel Tax and the One to Five Cent Local Option Fuel Tax. While Indian River County is eligible to
<br />levy the Ninth -Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax either by
<br />extraordinary vote of the Board of County Commissioners or by voter approval in a countywide
<br />referendum, it does not currently levy either tax. At this time, fifty-three of the sixty-seven Florida
<br />counties levy the Ninth -Cent Fuel Tax, while thirty-one of the sixty-seven Florida counties impose
<br />at least a portion of the One to Five Cent Local Option Fuel Tax.
<br />Community Development Department Indian River County
<br />Adopted December 5, 2017, Ordinance 2017-015 9
<br />Figure 6.8: Local Option Fuel Tax Revenue
<br />by FY
<br />$3,700
<br />$3,600
<br />■
<br />$3,500
<br />$3,400
<br />$3,300
<br />$3.200
<br />$3,100
<br />$3,000
<br />$2,900
<br />0 Ell
<br />10./11 11/12 12/13 13/14 14,115 15/16
<br />■Revenue (in thousands)
<br />Source: Indian River County Finance Department
<br />Indian River County currently imposes the full six cents of the one to six cent fuel tax. That tax
<br />applies to every net gallon of motor and diesel fuel sold within the county. The one to six cent fuel
<br />tax may be authorized by an ordinance adopted by a majority vote of the governing body or voter
<br />approval in a county -wide referendum. Generally, the proceeds may be used to fund transportation
<br />expenditures.
<br />Table 6.1 shows that local option fuel tax revenue represented 1.50% of all funds collected by Indian
<br />River County for FY 2015/16. Figure 6.8 shows that, between FY 2010/11 and FY 2013/14 there
<br />has been a downward trend with local option fuel tax revenue for the county. That downward trend
<br />ended in FY 2014/15, when local option fuel tax revenue significantly increased. The more recent
<br />increase in local option fuel tax revenue can be attributed to an improving economy and lower fuel
<br />prices which have led to an increase in fuel consumption.
<br />All sixty-seven Florida counties levy the full $0.06 of the original local option fuel tax.
<br />Table 6.3 identifies the local fuel taxes levied in Indian River County and in other counties in the
<br />region. As shown in Table 6.3, Saint Lucie, Martin, Okeechobee, and Palm Beach counties all levy
<br />the highest allowable fuel taxes at $0.12 per gallon. Those four counties impose both the Ninth Cent
<br />Fuel Tax and the One to Five Cent Local Option Fuel Tax. While Indian River County is eligible to
<br />levy the Ninth -Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax either by
<br />extraordinary vote of the Board of County Commissioners or by voter approval in a countywide
<br />referendum, it does not currently levy either tax. At this time, fifty-three of the sixty-seven Florida
<br />counties levy the Ninth -Cent Fuel Tax, while thirty-one of the sixty-seven Florida counties impose
<br />at least a portion of the One to Five Cent Local Option Fuel Tax.
<br />Community Development Department Indian River County
<br />Adopted December 5, 2017, Ordinance 2017-015 9
<br />■
<br />■
<br />Indian River County currently imposes the full six cents of the one to six cent fuel tax. That tax
<br />applies to every net gallon of motor and diesel fuel sold within the county. The one to six cent fuel
<br />tax may be authorized by an ordinance adopted by a majority vote of the governing body or voter
<br />approval in a county -wide referendum. Generally, the proceeds may be used to fund transportation
<br />expenditures.
<br />Table 6.1 shows that local option fuel tax revenue represented 1.50% of all funds collected by Indian
<br />River County for FY 2015/16. Figure 6.8 shows that, between FY 2010/11 and FY 2013/14 there
<br />has been a downward trend with local option fuel tax revenue for the county. That downward trend
<br />ended in FY 2014/15, when local option fuel tax revenue significantly increased. The more recent
<br />increase in local option fuel tax revenue can be attributed to an improving economy and lower fuel
<br />prices which have led to an increase in fuel consumption.
<br />All sixty-seven Florida counties levy the full $0.06 of the original local option fuel tax.
<br />Table 6.3 identifies the local fuel taxes levied in Indian River County and in other counties in the
<br />region. As shown in Table 6.3, Saint Lucie, Martin, Okeechobee, and Palm Beach counties all levy
<br />the highest allowable fuel taxes at $0.12 per gallon. Those four counties impose both the Ninth Cent
<br />Fuel Tax and the One to Five Cent Local Option Fuel Tax. While Indian River County is eligible to
<br />levy the Ninth -Cent Fuel Tax and the One to Five Cent Local Option Fuel Tax either by
<br />extraordinary vote of the Board of County Commissioners or by voter approval in a countywide
<br />referendum, it does not currently levy either tax. At this time, fifty-three of the sixty-seven Florida
<br />counties levy the Ninth -Cent Fuel Tax, while thirty-one of the sixty-seven Florida counties impose
<br />at least a portion of the One to Five Cent Local Option Fuel Tax.
<br />Community Development Department Indian River County
<br />Adopted December 5, 2017, Ordinance 2017-015 9
<br />
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