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It is the County ' s intent to use impact fee revenues as the primary funding source for <br /> future capital expansion needs of the parks and recreation program and to maintain or <br /> reduce the average annual dollar amount shown in this report toward capital expansion <br /> needs . In other words , the County intends to use non - impact fee revenue sources as the <br /> primary funding source for capital replacement, operations and maintenance expenses . <br /> As such, credit calculations for future expenditures do not include an escalation factor. <br /> Table X - 12 <br /> Capital Improvement Credit per Resident <br /> Capital Unincorporated <br /> Expenditures Couin ty Area <br /> Fiscal Year (Expansion)(') " Population(2) <br /> 1998 /99 $ 1703522 763237 <br /> 1999/00 $ 3 , 4865537 781489 <br /> 2000/01 $ 11084 , 498 809486 <br /> 2001 /02 $ 53343 , 448 825160 <br /> 2002/03 $ 130543499 849149 <br /> 2003 /04 $457169502 88 , 710 <br /> 2004/05 $4 , 3009000 905100 <br /> 2005 /06 $ 0 911867 <br /> 2006/07 $4503000 939669 <br /> 2007/08 $ 110505000 959506 <br /> 2008/09 $ 0 975379 <br /> Total $2196569006 <br /> Average $ 19968,728 87, 159 <br /> Revenue per Resident $22 . 59 <br /> ( 1 ) Source : Tables X-9 and X- 11 <br /> (2 ) Source : Table A-7 <br /> The last credit component is for revenue generated from past payments of property taxes <br /> on vacant land that are used to fund capital expansion projects . This calculation is a two - <br /> step process . First, the percentage of the total taxable value of vacant land to the total <br /> taxable property value for unincorporated IRC is calculated . Revenues generated by past <br /> payment of property taxes on vacant land are deposited into IBC ' s general fund . <br /> Therefore , the second calculation considers the portion of total capital expansion <br /> expenditures funded through general fund or municipal service taxing unit (MSTU) <br /> revenues over the previous five -year period . As shown in Table X - 11 , this figure is 1 . 48 <br /> percent . <br /> The vacant land value as a percentage of total property value is multiplied by the percent <br /> of historical general fund and MSTU revenues spent on capital expansion projects . As <br /> illustrated in Table X - 13 , the effective percentage of past property tax payments on <br /> vacant land is 0 . 16 percent . <br /> Tindale -Oliver & Associates , Inc . Indian River County <br /> May 2005 X - 19 Impact Fee Study <br />