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general fund is $ 1 , 356 per year, less than 1 percent of the total expansion expenditures during the ten-year period included in Table VI- 14 . It should be noted that it is the County ' s intent to use impact fee revenues as the primary funding source for future capital expansion needs of libraries and to maintain or reduce the average annual dollar amount from non-impact fee revenue sources shown in this study toward capital expansion needs . In other words, the County intends to use non - impact fee revenue sources as the primary funding source for capital replacement, operations , and maintenance expenses . As such, credit calculations for optional sales tax and ad valorem tax do not include an escalation factor. Vacant Land According to the Office of Management and Budget, the use of ad valorem taxes toward library capital expansion is limited and typically is directed to the replacement and possibly the addition of equipment. To be conservative , however, credit for past payments of property taxes for vacant land is given . Here , the ratio of total vacant land (residential, commercial, and industrial) to total taxable value is reviewed to develop the percentage of countywide vacant land taxable value to the total countywide taxable property value . Table VI - 15 Vacant Land Value Percentage( ' ) r.r+1 Vacant Land Value $ 1908098199230 Countywide Total Property Value(2) $ 12 , 18192505689 Vacant Land Value as a Percentage of the Total Property Value(3) 8 . 87% Percent of Capital Expansion Expenditures Funded with General Fund(4) 0 . 18 % Effective Vacant Land Value Percentage(5) 0 . 02% ( 1 ) Source : Property Appraiser, IRC (2) Includes structures . (3 ) Vacant Land Percent = $ 1 ,080, 819 ,230/$ 12, 181 ,250 , 689 (4) Source : Table VI- 14 ( 5 ) Vacant land value as a percentage of the total property value (Item 3 ) multiplied by percent of expenditures covered with ad valorem taxes (Item 4). According to the information presented in Table VI- 15 , the countywide vacant land assessment accounts for 8 . 87 percent of total taxable value . Given that ad valorem tax revenues were used to pay for 0 . 18 percent of the capital expansion expenditures between Fiscal Years 98/99 and 07/08 , the total credit amount for ad valorem taxes paid on vacant land is determined by multiplying the percentage of vacant land value ( 8 . 87 Tindale-Oliver & Associates , Inc . Indian River County February 2005 VI- 16 Impact Fee Study