Description

The Hillsborough County Infrastructure Surtax (CIT) is calculated in a manner similar to the half-cent local sales tax. The only difference between them is that 25-percent of the total revenue generated from CIT is allocated to the school board and the remaining amount is apportioned among the other jurisdictions using the state formula. For the county it would be, dividing the sum of the unincorporated area population plus two-thirds of the incorporated area population by the sum of the total county population plus two-thirds of the incorporated area population (Florida Statute Chapter 218.62 distribution formula). For the other jurisdictions this is calculated using their population (of population), to determine their share.

Equations Used

• School District CIT Annual Revenue from Growth = CIT Annual Revenue from Growth x 0.25

• Hillsborough County CIT Annual Revenue from Growth = CIT Annual Revenue from Growth x 0.75 x DELAYINF (((Population[County-Unincorporated] + 2/3 x (Population[County-Hillsborough] – Population[County-Unincorporated])) / (Population[County-Hillsborough] + 2/3 x (Population[County-Hillsborough] - Population[County-Unincorporated]))), One-Year Lag)

• Tampa CIT Annual Revenue from Growth = CIT Annual Revenue from Growth x 0.75 x DELAYINF ((Population[City-Tampa] / (Population[County-Hillsborough] + 2/3 x (Population[County-Hillsborough] – Population[County-Unincorporated]))), One-Year Lag)

• Temple Terrace CIT Annual Revenue from Growth = CIT Annual Revenue from Growth x 0.75 x DELAYINF ((Population[City-Temple Terrace] / (Population[County-Hillsborough] + 2/3 x (Population[County-Hillsborough] – Population[County-Unincorporated]))), One-Year Lag)

• Temple Terrace CIT Annual Revenue from Growth = CIT Annual Revenue from Growth x 0.75 x DELAYINF ((Population[City-Plant] / (Population[County-Hillsborough] + 2/3 x (Population[County-Hillsborough] – Population[County-Unincorporated]))), One-Year Lag)