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Comprehensive Plan Capital Improvements Element On March 11, 2014 the Board of County Commissioners voted to suspend the same three impact fees until March 31, 2015 or until the County could complete its most recent impact fee review and adopt a new impact fee schedule. By early April 2014 the County had completed the nonresidential portion of its impact fee review and on April 22, 2014 the Board of County Commissioners adopted a revised reduced nonresidential impact fee schedule with an effective date of May 5, 2014. The residential impact fee review was completed in September of 2014 and a revised residential impact fee schedule was adopted by the Board of County Commissioners on October 14, 2014 with an effective date of February 2, 2015. For both the nonresidential impact fee schedule and the residential impact fee schedule the Board of County Commissioners voted to not collect the correctional facilities, solid waste facilities, and libraries impact fees at this time. Figure 6.5 shows that more than twelve million dollars of impact fee revenue was collected in FY 2020/21. This is over four and half million dollars more than what was collected in FY 2019/20.. During the past six years revenue from impact fees have increased 95.45%. • Local Discretionary Sales Surtax Pursuant to s. 212.055, F.S, local governments are authorized to levy numerous types of local discretionary sales surtaxes. Under the provisions of s. 212.054, F.S., the local discretionary sales surtaxes apply to all transactions subject to the state tax imposed on sales, use, services, rentals, admissions, and other authorized transactions. The surtax is computed by multiplying the rate imposed by the county where the sale occurs by the amount of the taxable sale. This sales tax can be levied on most transactions under $5,000. According to state law, Indian River County is eligible to impose a Local Figure 6.6: Local Discretionary Sales Surtax by FY $25,0 s22.o7s $20,000ss.�os �t92 s18,985 $16.83 517.624 $15,000 $10,000 $5,000 15116 16/17 17/18 18119 19/20 20121 ■Revenue (In tnousanas) Source. Indian River County Finance Department Government Infrastructure Surtax of either 0.5% or 1.0%. Currently, Indian River County imposes the 1.0% Infrastructure Surtax. Procedurally, the Local Government Infrastructure Surtax must be enacted by a majority vote of the Board of County Commissioners and approved by voters in a countywide referendum. That surtax, which may be imposed for a maximum period of fifteen years, was imposed by Indian River County in April, 1989, and was renewed by voters in November, 2002, and again in November 2016. Generally, the proceeds must be expended to finance, plan, and construct infrastructure; to acquire land for public recreation or conservation or protection of natural resources; or to finance the closure of local government-owned solid waste landfills that are already closed or are required to close by order of the Department of Environmental Protection. Community Development Department Indian River County Adopted December _, 2022, Ordinance 2022- 6 225