Special Revenue Funds Major Revenues

Fiscal Year 2022 Operating and Capital Budget

Community Investment Taxes Revenue

Legal Authorization: Section 212.055(2), Florida Statutes, authorizes the governing body of each county to levy a discretionary sales surtax of 0.5 % or 1 %, to finance, plan and construct infrastructure projects, subject to a referendum of the electorate. On September 3, 1996, the electors of Hillsborough County approved, by a majority, a referendum imposing the levy and collection of an additional half-cent discretionary sales surtax. As authorized by Hillsborough County Codes and Ordinances, Article 46, Section 46-240, the discretionary sales tax, formally referred to as the Community Investment Tax, is effective for a 30-year period which commenced on December 1, 1996.

Source: Taxes charged on eligible taxable sales within Hillsborough County and distributed in accordance with the governing interlocal agreement.

Uses and restrictions: Community Investment Taxes are used to fund the acquisition, reconstruction, and improvement of various capital improvement projects.

Analysis/Assumption: FY2022 Community Investment Tax revenues are expected to increase 5.5% from FY2021 projections. This increase is partially attributable to implementation of an internet sales tax that started on July 1, 2021, improved economic conditions and higher consumer spending.

Construction Permits Revenue

Legal Authorization: Authorized by City of Tampa Code of Ordinances Chapter 5, Sections 5-105 and 5-108, and Chapter 22, Article 1, Division 3, Section 22-56.

Source: Charges received from individuals or entities for the issuance of construction permits related to new and existing structures.

Uses and restrictions: May be used to offset the cost of services involving zoning or regulated trades that require inspection or review as required by state statutes and/or local ordinances.

Analysis/Assumptions: FY2022 construction permit revenues are expected to increase slightly from FY2021 projections due to new construction activity, home renovations, and large construction building projects.

Local Option Gas Tax Revenue

Legal Authorization: Authorized by Sections 206.41(1)(e), 206.87(1)(c), and 336.025, Florida Statutes.

Source: Taxes imposed on every net gallon of fuel sold in the county and distributed to the City based on its population.

Uses and restrictions: Local Option Fuel Tax revenues may only be used for transportation-related items (i.e. road construction/repairs, bridge maintenance, traffic signs, and rights-of-way maintenance).

Analysis/Assumption: Revenue collections are tied directly to the amount of fuel consumed and not to the price of fuel. FY2022 revenues are expected to increase 10% from FY2021 projections due to projected increases in fuel consumption.

Stormwater Non-Ad Valorem Assessment Revenue

Legal Authorization: Authorized by Section 403.0893, Florida Statutes and City of Tampa Code of Ordinances, Chapter 21, Article IV, Division 2, Section 21-119 through Section 21-122 and Division 3, Section 21-124 through Section 21-129.

Source: Annual Non-Ad Valorem Assessments and fees received from the adopted stormwater roll.

Uses and restrictions: Stormwater service assessments and fee revenues are used to support and maintain the stormwater conveyance system. Stormwater improvement assessments may only be used for stormwater-related capital projects within the Central and Lower Basin Improvement Area.

Analysis/Assumption: On June 25, 2015, City Council increased the stormwater service assessment from $36 to $82 per equivalent stormwater unit. The increased service assessment provided additional funding for the increased maintenance of the stormwater conveyance system. On September 1, 2016, City Council adopted a stormwater improvement assessment, effective October 1, 2016, with annual increases occurring through October 1, 2021. This improvement assessment funds capital stormwater projects in the Central and Lower Basin Improvement Area. FY2022 Stormwater Non-Ad Valorem Assessment revenue will increase 4.5% from FY2021 projections due to projected increases in stormwater service assessments and fees.