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(6)
<br />(7)
<br />Finance beach development and restoration as well as shoreline protection and
<br />restoration of inland lakes and rivers to which there is public access;
<br />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 2089482010/11,
<br />Tourist Development Tax revenue has g
<br />i-i::ereiSeEl- $1,325-, 20094 0 t9
<br />$2,267,000 i FY 2014,45; ;;T?iTis-nn ever,�1
<br />increased e 163.62% awifi,. that time fr-a e
<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 />revenue bonds issued by the county, subiect to
<br />➢ a one to five cent local option fuel tax; and
<br />➢ a ninth cent fuel tax.
<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 44541.50% of all funds collected by
<br />Indian River County for FY 201.1.52015/16. Figure 6.8 shows that, between FY 200902010/11
<br />and FY 2013/14 there has been a downward trend with local option fuel tax revenue for the county.
<br />That downward trend ended in FY 2014/15, when local option fuel tax revenue significantly
<br />increased.
<br />high fuel prices, less tFave4ihg i (less fuel . eeasuWtien by eeasufaer-s), and fnar-e fuel effiraient
<br />• �� The more recent increase in local option fuel tax revenue can be attributed to an improving
<br />economy and lower fuel prices which have led to an increase in fuel consumption.
<br />All sixty-seven Florida counties levy a-peftien-the full $0.06 of the original local option fuel tax.
<br />lWhile, s . tty n4ies le;,T the full $0.06, Vie only ., ,,t4io,, of the t„ -
<br />x. -
<br />Community Development Department Indian River County
<br />Adopted , Ordinance 2017-_ 9
<br />P346
<br />Figure 6.8: Local Option Fuel Tax Revenue
<br />by FY
<br />$3,700
<br />$3,600
<br />$3,574
<br />$3,508
<br />$3,500
<br />.$3,400
<br />$3,300
<br />$3,200
<br />$3,181 $3,173
<br />$3,145 $3,133
<br />$3,100
<br />$3,000
<br />$2,900
<br />10/11 11/12 12/13 13/14 14/15 15/16
<br />■Revenue (n thousands)
<br />Source: Indian River County Finance Department
<br />➢ a one to five cent local option fuel tax; and
<br />➢ a ninth cent fuel tax.
<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 44541.50% of all funds collected by
<br />Indian River County for FY 201.1.52015/16. Figure 6.8 shows that, between FY 200902010/11
<br />and FY 2013/14 there has been a downward trend with local option fuel tax revenue for the county.
<br />That downward trend ended in FY 2014/15, when local option fuel tax revenue significantly
<br />increased.
<br />high fuel prices, less tFave4ihg i (less fuel . eeasuWtien by eeasufaer-s), and fnar-e fuel effiraient
<br />• �� The more recent increase in local option fuel tax revenue can be attributed to an improving
<br />economy and lower fuel prices which have led to an increase in fuel consumption.
<br />All sixty-seven Florida counties levy a-peftien-the full $0.06 of the original local option fuel tax.
<br />lWhile, s . tty n4ies le;,T the full $0.06, Vie only ., ,,t4io,, of the t„ -
<br />x. -
<br />Community Development Department Indian River County
<br />Adopted , Ordinance 2017-_ 9
<br />P346
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