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Comprehensive Plan Capital Improvements Element • Constitutional Fuel Tax The constitutional fuel tax is defined as an excise or license tax of two cents per gallon of motor 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 FIGURE 6.12: Constitutional Fuel Tax Revenue by FY $1,850 - $1,800 - $1,750 - $1,700 - $1,650 - $1,600 - $1,550 - $1,500 - $1,450 11/12 12/13 13/14 14/15 15/16 16/17 El Revenue (in thousands) Source: Indian River County Finance Department certificates, and tax anticipation certificates or any refunds secured by any portion of the tax proceeds. After complying with the necessary debt service obligations, the state distributes a county's surplus funds to its governing body. Table 6.1 shows that revenue received from the constitutional fuel tax levy represented 0.75% of total revenue received by Indian River County in FY 2016/17. Figure 6.12 shows that, over the last six fiscal years, constitutional fuel tax revenue received by Indian River County increased by 13.59%. • County Fuel Tax 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, including the reduction of bond indebtedness incurred for transportation purposes. Table 6.1 shows that funds received through the county fuel tax levy represented 0.33% of all revenue collected by Indian River County in FY 2016/17. Figure 6.13 shows that, over the last six Community Development Department Adopted December 4, 2018, Ordinance 2018-025 Figure 6.13: County Fuel Tax by FY $820 $soz $800 $783 $780 $760 $738 $740 $720 $706 $700 $696 $6ri - 98 $680 $660 $640 11/12 12/13 13/14 14/15 15/16 16/17 o Revenue (in thousands) Source: Indian River County Finance Department Indian River County 15 t t � ��M�� t t t t certificates, and tax anticipation certificates or any refunds secured by any portion of the tax proceeds. After complying with the necessary debt service obligations, the state distributes a county's surplus funds to its governing body. Table 6.1 shows that revenue received from the constitutional fuel tax levy represented 0.75% of total revenue received by Indian River County in FY 2016/17. Figure 6.12 shows that, over the last six fiscal years, constitutional fuel tax revenue received by Indian River County increased by 13.59%. • County Fuel Tax 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, including the reduction of bond indebtedness incurred for transportation purposes. Table 6.1 shows that funds received through the county fuel tax levy represented 0.33% of all revenue collected by Indian River County in FY 2016/17. Figure 6.13 shows that, over the last six Community Development Department Adopted December 4, 2018, Ordinance 2018-025 Figure 6.13: County Fuel Tax by FY $820 $soz $800 $783 $780 $760 $738 $740 $720 $706 $700 $696 $6ri - 98 $680 $660 $640 11/12 12/13 13/14 14/15 15/16 16/17 o Revenue (in thousands) Source: Indian River County Finance Department Indian River County 15