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/4)f <br />INDIAN RIVER COUNTY, FLORIDA <br />BOARD MEMORANDUM <br />TO: Board of County Commissioners <br />THROUGH: John A. Titkanich, Jr., County Administrator <br />Nancy Bunt, Assistant County Administrator <br />FROM: Kirstin Leiendecker, P.E., Acting Public Works Director <br />SUBJECT: Local Option Gas Tax Distribution Percentages <br />DATE: May 10, 2024 <br />As required by Chapter 209 of the Indian River County Code, the Board of County <br />Commissioners shall conduct a Public Hearing every two years in May to approve a <br />revenue distribution formula for the 6¢ Local Option Gas Tax. This tax revenue is currently <br />shared with the five municipalities based upon a formula as follows: <br />"The percentage of total revenue allocated to each eligible entity equals one- <br />third of the entity's percentage of total equivalent lane miles of road plus one- <br />third of the entity's percentage of transportation expenditures over the previous <br />five years plus one-third of the entity's total percentage of population residing in <br />the area based upon the most recent estimate from the Florida Bureau of <br />Economic and Business Research." <br />This formula has been used over the past 37 years. <br />Attached is the 2024 updated table for computation of the Local Option Gas Tax Distribution <br />Percentages. The new percentages will be sent to the Florida Department of Revenue for <br />implementation by September 1, 2024. <br />RECOMMENDATIONS <br />Staff recommends approval of the 2024/2025 revenue distribution percentages. <br />ATTACHMENT <br />Chapter 209 <br />LOGT Chart/Spreadsheet <br />Public Hearing Advertisement <br />April 2024 Sample Letter to Municipalities <br />APPROVED AGENDA ITEM FOR MAY 21, 2024 <br />C:\Granicus\Legistar5\L5\Temp\80b17c03-bcf4-41 b6-bc9b-9e04c4c2743d.doc <br />65 <br />