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Comprehensive Plan Capital Improvements Element <br />The One to Five Cent Local Option Fuel Tax is a one to five cents tax that can be levied upon every <br />gallon of motor fuel sold in Indian River County. Revenues from that fuel tax must be shared among <br />all eligible jurisdictions in the county as a result of an interlocal agreement or by an historical <br />transportation expenditures formula. Authorized uses for revenue collected from the One to Five <br />Cent Fuel Tax include transportation expenditures needed to meet the requirements of the Capital <br />Improvements Element of the Comprehensive Plan. <br />A Professional Sports Franchise Facility Tax is a levy of up to 1 % on any lodging agreement for six <br />months or less. Revenue from this tax may be used to pay the debt service on bonds issued to finance <br />the construction, reconstruction, or renovation of a professional sports franchise facility. <br />State Sources <br />Revenue classified as state sources maybe generated locally but collected by the state and returned to <br />the county. Table 6.1 displays the state revenue sources applicable to Indian River County. Those <br />sources are described in further detail below. <br />• Local Government Half -Cent Sales Tax <br />The Local Government Half Cent Sales Tax Program allocates 8.9744% of net sales tax proceeds <br />remitted by sales tax dealers in a county to a special account administered by the Department of <br />Revenue; that account is the Local Government <br />Half Cent Sales Tax Clearing Trust Fund. <br />Those funds are then earmarked for distribution <br />to the governing body of the county and each <br />municipality within the county. Distribution of <br />those monies within the county"is determined <br />by a formula that uses a weighting factor based <br />on the population of the incorporated and <br />unincorporated areas and multiplies that factor <br />by 8.9744% of the sales tax proceeds received <br />by the county. In FY 2016/17, Indian River <br />County received $9,432,000 through the half - <br />cent sales tax. As shown in Table 6.1, that <br />amount represented 3.89% of all funds <br />collected by Indian River County during the <br />2016/17 fiscal year. <br />Community Development Department <br />Adopted December 4, 2018, Ordinance 2018-025 <br />Indian River County <br />13 <br />