Penny for Pasco Fund

The Penny for Pasco Fund is a 1% sales tax on goods and services purchased in Pasco County. The proceeds are used to address the County's capital infrastructure needs. The original Penny was passed by the Pasco County voters on March 9, 2004, and again on November 6, 2012. The original Penny was in effect from January 1, 2005, to December 31, 2014. The renewal of the Penny is in effect from January 1, 2015, through December 31, 2024. The most recent vote passed on November 8, 2022 which extended the Penny to December 31, 2039.

The surtax proceeds are distributed between the County (45%), District School Board of Pasco County (45%), and the Municipalities (10%).The Municipalities totaling 10% consist of:

• The City of New Port Richey - 3.49%
• The City of Zephyrhills - 3.59%
• The City of Dade City - 1.52%
• The City of Port Richey - .64%
• The City of San Antonio - .27%
• Town of St. Leo - .49%

Penny for Pasco revenue collections fluctuate from year to year and reflect the state of the economy based on proceeds from the sales tax. Collections dipped in the years 2007 through 2009 but have been recovering until the COVID-19 pandemic in March of 2020. The effects of the pandemic were forecasted to decrease revenues near 2017 levels through 2021 and begin recovery in 2022, but despite the lockdowns, sales tax proceeds shifted to online which continued the upward trend in 2020 and 2021. Due to the strong performance of the Penny for Pasco proceeds in 2020 and 2021, we expect to see a continuation of the upward trend in 2023.

The County’s 45% share of the surtax proceeds are allocated as follows:

20% is dedicated to establishing and funding the Jobs and Economic Development Trust Fund for the purpose of improving the local economy through incentivizing economic development. In FY 2024, the Jobs and Economics Opportunities Trust Fund will make funding available for economic development projects proposed by the Board of County Commissioners through an application and review process.

20% is allocated to public safety infrastructure. Proceeds for public safety are shared 50/50 between the Pasco County Fire Rescue and Sheriff's Office. In FY 2024, proceeds will be used on vehicles for the Sheriff's Office, and various equipment such as Stretchers and Fire Hoses for the Fire Rescue Department.

20% is used for the acquisition of environmentally sensitive lands for conservation purposes and/or to protect the County’s natural resources, including less than fee simple land acquisitions, conservation easements, purchase of development rights, etc. For FY24, $9.9 million has been set aside for land acquisition projects throughout the County.

40% of the proceeds will be used for transportation infrastructure that includes any fixed capital expenditure associated with the following: construction, reconstruction, or improvement of roads and transportation facilities; land acquisition, land improvement, design, permitting, and engineering costs; and public transportation vehicles. Many important transportation projects will be funded in part or entirely by the Penny in the Capital Improvement Plan for FYs 2024-2028. These include various sidewalk, safety, and intersection improvements including, but not limited to the Bi-County Bike Trail and Transit buses. $23 million has been budgeted in FY24 for capital expenditures for Transportation.