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On March 11, 2014 the Board of County Commissioners voted to suspend the same three impact
<br />fees until March 31, 2015 or until the County could complete its most recent impact fee review and
<br />adopt a new impact fee schedule. By early April 2014 the County had completed the nonresidential
<br />portion of its impact fee review and on April 22, 2014 the Board of County Commissioners adopted
<br />a revised reduced nonresidential impact fee schedule with an effective date of May 5, 2014..The
<br />residential impact fee review was completed in September of 2014 and a revised residential impact
<br />fee schedule was adopted by the Board of County Commissioners on October 14, 2014 with an
<br />effective date of February 2, 2015. For both the nonresidential impact fee schedule and the
<br />residential impact fee schedule the Board of County Commissioners voted to not collect the
<br />correctional facilities, solid waste facilities, and libraries impact fees at this time.
<br />Figure 6.5 shows that over six million dollars of impact fee revenue was collected in FY
<br />20145/16. This is over four million dollars more than what was collected in FY
<br />2099110/4-911. Impact fee revenues decreased during the Great Recession and have gradually
<br />increased since FY 2009/10.
<br />• Local Discretionary Sales Surtax
<br />Pursuant to s. 212.055, F.S, local governments
<br />are authorized to levy numerous types of local
<br />discretionary sales surtaxes. Under the
<br />provisions of s. 212.054, F.S., the local
<br />discretionary sales surtaxes apply to all
<br />transactions subject to the state tax imposed on
<br />sales, use, services, rentals, admissions, and
<br />other authorized transactions. The surtax is
<br />computed by multiplying the rate imposed by
<br />the county where the sale occurs by the amount
<br />of the taxable sale. This sales tax can be levied
<br />on most transactions under $5,000.
<br />According to state law, Indian River County is
<br />eligible to impose a Local Government
<br />Infrastructure Surtax of either 0.5% or 1.0%.
<br />Figure 6.6: Local Discretionary Sales
<br />Surtax by FY
<br />$18,000 -'— 16 iso M,859'
<br />$16,000
<br />$14,000
<br />$12,000
<br />$10,000
<br />$8,000
<br />$6,000
<br />$4,000
<br />$2,000
<br />10/11 11/1 2 12/13 13/14 14/15 15/16
<br />■ Revenue (in thousands)
<br />Source: Indian River County Finance Department
<br />Currently, Indian River County imposes the 1.0% Infrastructure Surtax.
<br />Procedurally, the Local Government Infrastructure Surtax must be enacted by a majority vote of the
<br />Board of County Commissioners and approved by voters in a countywide referendum. That surtax,
<br />which may be imposed for a maximum period of fifteen years, was imposed by Indian River County
<br />in April., 1989, and was renewed by voters in November, 2002 and again in November 2016.
<br />Generally, the proceeds must be expended to finance, plan, and construct infrastructure; to acquire
<br />land for public recreation or conservation or protection of natural resources; or to finance the closure
<br />of local government-owned solid waste landfills that are already closed or are required to close by
<br />order of the Department of Environmental Protection.
<br />Community Development Department Indian River County
<br />Adopted , Ordinance 2017-_ 6
<br />P2 53
<br />1
<br />Currently, Indian River County imposes the 1.0% Infrastructure Surtax.
<br />Procedurally, the Local Government Infrastructure Surtax must be enacted by a majority vote of the
<br />Board of County Commissioners and approved by voters in a countywide referendum. That surtax,
<br />which may be imposed for a maximum period of fifteen years, was imposed by Indian River County
<br />in April., 1989, and was renewed by voters in November, 2002 and again in November 2016.
<br />Generally, the proceeds must be expended to finance, plan, and construct infrastructure; to acquire
<br />land for public recreation or conservation or protection of natural resources; or to finance the closure
<br />of local government-owned solid waste landfills that are already closed or are required to close by
<br />order of the Department of Environmental Protection.
<br />Community Development Department Indian River County
<br />Adopted , Ordinance 2017-_ 6
<br />P2 53
<br />
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