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Indian River County 1 Impact Fee Update Study <br />• Proceeds are distributed to a county and its municipalities according to a mutually <br />agreed upon distribution ratio, or by using a formula contained in the Florida <br />Statutes. <br />Each year, the Florida Legislature's Office of Economic and Demographic Research (EDR) <br />produces the Local Government Financial Information Handbook, which details the <br />estimated local government revenues for the upcoming fiscal year. Included in this <br />document are the estimated distributions of the various fuektax revenues for each county <br />in the state. The 2013-14. data represent projected fuelttax distributions to Indian River <br />County for the upcoming fiscal year. In the table, theuel, tax revenue data are used to <br />calculate the value per penny (per gallon of fuel)that should be used to estimate the <br />"equivalent pennies" of other revenue sources:JT)61e D-1 shows>the distribution per penny <br />for each of the fuel levies, and then the calcu at n of the weightedaverage for the value of <br />a penny of fuel tax. The weighting procedure .takes into account the differing amount of <br />NW <br />revenues generated for the various types of gas taxrevenues. The weightedaverage figure <br />of approximately $0.74 million estimates the annual revenue that one penny of gas tax <br />generates in Indian County. <br />Table D-1'Wa.$` <br />=. <br />Estimated Fuel Tax9Distribution=Allocated to1Capital Programs for <br />,= <br />radian Rive rCounty COI/panties, FY2013-14111 <br />Tax 1 <br />ConstitutionaIFuel Tax <br />Amount of Levy <br />L per Gallon <br />Total <br />Distribution <br />Distribution Per <br />Penny <br />Awe.— Tere4. <br />. $0.02 <br />$1,592,578 <br />$796,289 <br />;County Fuel Tax <br />$0.01 <br />$701,978 <br />$701,978 <br />hstocal Option <br />(1-6(cents) <br />:,. <br />x, $0.06 <br />$4,364,623 <br />$727,437 <br />Total "C . 1. <br />$0.09 <br />$6,659,179 <br />WeightedAverage <br />: <br />$739,909 <br />(1) <br />Source: Florida Legi la ure's Office of Economic and Demographic Research <br />taeo/http://edr.sfus ent/local-government/reports/ <br />(2) The weighted average°distribution per penny is calculated by taking the sum of the total <br />distribution and dividing that value by the sum of the total levies per gallon (multiplied <br />by 100). <br />Gas Tax Credit <br />A revenue credit for the annual gas tax equivalent expenditures on roadway capacity <br />expansion projects in Indian River County is presented below. The two components of the <br />credit are as follows: <br />Tindale -Oliver & Associates, Inc. Indian River County <br />January 2014 <br />D-2 Impact Fee Update Study <br />