2017-015 - Laserfiche WebLink

Home Browse Search

Comprehensive Plan Capital Improvements Element fuel, imposed upon the first sale or first removal from storage (after importation into Florida). Revenues from this levy become state funds at the time of collection by the refiner, importer or wholesaler. In its current form, the constitutional fuel tax is a state-shared revenue source for counties only. Applying a distribution formula, the state allocates proceeds to counties to the extent necessary to comply with all obligations to or for the benefit of holders of bonds, revenue certificates, and tax anticipation certificates or any refunds secured by any portion of the tax proceeds. After complying Figure 6.13: County Fuel Tax by FY with the necessary debt service obligations,the state $800 distributes a county's surplus funds to its governing $780 $783 body. $760 Table 6.1 shows that revenue received from the $740 J $7381 constitutional fuel tax levy represented 0.74% of $720 total revenue received by Indian River County in $699 I $6961 $698 $los $700 FY 2015/16. Figure 6.12 shows that, over the last six fiscal years, constitutional fuel tax revenue $680 ■ ■ ■ • IIIreceived by Indian River County increased by $660 ■ • • • ■ 10.86%. $640 10/11 11/12 12/13 13/14 14/15 15/16 • County Fuel Tax •Revenue(in thousands) Source: Indian River County Finance Department The county fuel tax is levied on motor fuel at the rate of one cent per net gallon. The legislative intent of this tax is to reduce a county's reliance on ad valorem taxes. Funds received from this tax can be used by a county for transportation-related expenses, Figure 6.14:Alcoholic Beverage License Tax including the reduction of bond indebtedness by FY incurred for transportation purposes. $80 $70I J $611 $59 $67 J $61 $57 Table 6.1 shows that funds received through the $60 $53 1. ■ county fuel tax levy represented 0.33% of all $50 revenue collected by Indian River County in $40 ■ ■ ■ ■ ■ FY2015/16. Figure 6.13 shows that, over the last $30 ■ ■ ■ ■ ■ six fiscal years,county fuel tax revenue received by • • • Indian River County increased 12.02%. $20 . ■ ■ ■ ■ $10 • Alcoholic Beverage License Tax $- 10/11 11/12 12/13 13/14 14/15 15/16 • Alcoholic beverage license taxes are levied on Revenue(in thousands) manufacturers, distributors, vendors, and sales Source: Indian River Cou nty Finance Department agencies of alcoholic beverages in Florida. The tax Community Development Department Indian River County Adopted December 5,2017,Ordinance 2017-015 15