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Comprehensive Plan Capital Improvements Element <br />State Sources <br />Revenue classified as state sources may be <br />generated locally but collected by the state and <br />returned to the county. Table 6.1 displays the state <br />revenue sources applicable to Indian River <br />County. Those sources are described in further <br />detail below. <br />• Local Government Half -Cent <br />Sales Tax <br />The Local Government Half Cent Sales Tax <br />Program allocates 8.9744% of net sales tax <br />proceeds remitted by sales tax dealers in a county <br />to a special account administered by the <br />Figure 6.10: Half Cent Sales Tax Revenue <br />$10,000 by FY <br />- - <br />$9,000 — <br />$8,685 $9,044 <br />$8,220 <br />$8,000$7,075 $7,413 $7,829 <br />$7,000 <br />$6,000 <br />$5,000 <br />$4,000 <br />$3,000 <br />$2,000 <br />$1,000 <br />$- <br />10/11 11/12 12/13 13/14 14/15 15/16 <br />■ Revenue (in thousands) <br />Source: Indian River County Finance Department <br />Department of Revenue; that account is the Local Government Half Cent Sales Tax Clearing Trust <br />Fund. Those funds are then earmarked for distribution to the governing body of the county and each <br />municipality within the county. Distribution of those monies within the county is determined by a <br />formula that uses a weighting factor based on the population of the incorporated and unincorporated <br />areas and multiplies that factor by 8.9744% of the sales tax proceeds received by the county. In FY <br />2015/16, Indian River County received $9,044,000 through the half -cent sales tax. As shown in Table <br />6. 1, that amount represented 3.81 % of all funds collected by Indian River County during the 2015/16 <br />fiscal year. <br />Figure 6.10 displays the funds made available to Indian River County through the half -cent local <br />government sales tax over the last six fiscal years. Overal I, Indian River County's half -cent sales tax <br />revenue increased between Fiscal Year 2010/11 and Fiscal Year 2015/16. <br />Occasionally, governments can receive supplemental distributions by meeting special eligibility <br />criteria; however, in no case can the total supplemental and ordinary distribution exceed the <br />maximum per capita amount allowed by law. Governments are allowed wide latitude in using the <br />half cent sales tax. For counties, the law provides only that half cent sales tax revenue be used for <br />countywide tax relief or countywide programs. <br />Community Development Department Indian River County <br />Adopted December 5, 2017, Ordinance 2017-015 13 <br />